DiamondRock Hospitality Company (Nasdaq: DRH) has announced the upcoming retirement of Chairman William W. McCarten, who will be stepping down from the Board of Directors at the end of his current term, effective at the adjournment of the 2026 Annual Meeting of Shareholders on April 29, 2026. At that time, Bruce D. Wardinski will assume the role of non-executive Chairman of the Board, and the size of the Board will be reduced from nine directors to eight.
McCarten, who has had a distinguished 47-year career in hospitality, founded DiamondRock and served as its inaugural Chief Executive Officer and Chairman. His retirement marks the end of an era for the company. Jeffrey J. Donnelly, Chief Executive Officer, praised McCarten's leadership, mentorship, and enduring passion for hospitality, stating that his insight and principled leadership will be profoundly missed.
McCarten expressed his pride in the successful business created during his tenure, and he endorsed Wardinski as uniquely qualified to take on the role of Chairman, citing his prior experience as Chairman of three publicly traded hotel companies and his service on DiamondRock's Board since 2013.
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that owns a portfolio of 35 premium quality hotels and resorts with approximately 9,600 rooms. The company's portfolio is strategically positioned in leisure destinations and top gateway markets, and it includes both globally recognized brand families and independent boutique hotels in the lifestyle segment. The market has reacted to these announcements by moving the company's shares 0.11% to a price of $9.31. For the full picture, make sure to review DiamondRock Hospitality Co's 8-K report.
