What's Happening?
Wyndham Hotels & Resorts has announced a change in its financial leadership following the departure of Michele Allen, who served as the company's Chief Financial Officer and Head of Strategy. Allen is leaving to pursue a new career opportunity outside
the hotel industry. Kurt Albert, currently the company's Treasurer and Head of Financial Partnerships & Planning, has been appointed as Interim Chief Financial Officer, effective immediately. Albert has been with Wyndham for over 15 years, holding various leadership positions within the Treasury and Financial Planning & Analysis functions. The company plans to conduct a comprehensive search for a permanent CFO, considering both internal and external candidates. Allen will remain in an advisory role at Wyndham through the end of 2025 to ensure a smooth transition.
Why It's Important?
The appointment of Kurt Albert as Interim CFO is significant for Wyndham Hotels & Resorts as it navigates a period of transition in its financial leadership. This change comes at a time when the company is focusing on strategic priorities and financial planning. Albert's extensive experience within the company is expected to provide stability during this transition. The search for a permanent CFO will be crucial for Wyndham as it seeks to maintain its financial health and strategic direction. The departure of Michele Allen, a key figure in the company's strategy, could impact Wyndham's approach to financial management and strategic initiatives.
What's Next?
Wyndham Hotels & Resorts will begin a comprehensive search for a permanent Chief Financial Officer, considering both internal and external candidates. The timeline for completing this search has not been specified. During this period, Kurt Albert will serve as Interim CFO, ensuring continuity in financial leadership. Michele Allen will remain in an advisory role until the end of 2025, aiding in the transition process. The company will continue to focus on its strategic priorities and financial planning, with Albert's leadership expected to guide these efforts until a permanent CFO is appointed.
