James E. Mikolaichik Appointed as Chief Financial Officer of Hilton Grand Vacations
July 13 2016 - 5:00PM
Business Wire
Hilton Worldwide Holdings Inc. (NYSE:HLT) (“Hilton”) announced
today the appointment of James E. Mikolaichik as chief financial
officer (CFO) of Hilton Grand Vacations (HGV) in advance of the
planned separation of the timeshare business from Hilton later this
year.
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James E. Mikolaichik Appointed as CFO of
Hilton Grand Vacations (Photo: Business Wire)
Mikolaichik will oversee the company’s finance and accounting
organizations and will play a crucial role in the development and
implementation of HGV’s corporate and financial strategies. His
appointment as CFO will be effective in August 2016, and he will
report to Mark Wang, president and chief executive officer, Hilton
Grand Vacations.
“Jim is a great addition to the HGV leadership team and we are
confident his leadership and experience will contribute greatly to
the long-term success of the HGV business,” stated Christopher J.
Nassetta, president and chief executive officer, Hilton. “With
Jim’s appointment, we now have CEOs and CFOs in place for both our
planned REIT, Park Hotels & Resorts, and HGV businesses, which
represents a major milestone in our path to completing the
separation later this year.”
"After a thorough and deliberate search process, we are thrilled
to have Jim join us,” said Mark Wang, president and chief executive
officer, Hilton Grand Vacations. “He brings extensive financial
planning and strategy experience to the team and will play a
critical role as we continue to lead the timeshare industry.”
Mikolaichik joins HGV from Manning & Napier, Inc., an
approximately $37 billion investment management firm, where he was
chief financial officer. He was responsible for strategic and
financial planning, financial reporting, tax, corporate
development, investor relations, internal audit and human
resources. Prior to Manning & Napier, he was with Old Mutual
Asset Management as executive vice president, head of strategy and
co-head of fund operations, as well as chief risk officer.
Mikolaichik also worked for Deloitte LLP in various roles from 1993
to 2004. A certified public accountant, he holds a master of
business administration in finance and entrepreneurship from
Columbia University and a bachelor of science in accounting from
Susquehanna University.
"I can’t imagine a more exciting time to join Hilton Grand
Vacations,” Mikolaichik said. “I look forward to working with Mark
and the entire Hilton leadership team to ensure a successful
separation and position HGV as a long-term growth and
capital-efficient timeshare business.”
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements include, but are not limited to,
statements related to the intended spin-offs and their expected
benefits and other non-historical statements. You can identify
these forward-looking statements by the use of words such as
"outlook," "believes," "expects," "potential," "continues," "may,"
"will," "should," "could," "seeks," "projects," "predicts,"
"intends," "plans," "estimates," "anticipates" or the negative
version of these words or other comparable words. Such
forward-looking statements are subject to various risks and
uncertainties. Additional factors that could cause Hilton's results
to differ materially from those described in the forward-looking
statements can be found under the section entitled "Part I-Item 1A.
Risk Factors" of the Annual Report on Form 10-K for the fiscal year
ended December 31, 2015, filed with the SEC, as such factors may be
updated from time to time in Hilton's periodic filings with the
SEC, which are accessible on the SEC's website at www.sec.gov.
Accordingly, there are or will be important factors that could
cause actual outcomes or results to differ materially from those
indicated in these statements. These factors should not be
construed as exhaustive and should be read in conjunction with the
other cautionary statements that are included in this release and
in Hilton's filings with the SEC. The Company undertakes no
obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as required by law.
About Hilton
Hilton (NYSE: HLT) is a leading global hospitality company,
comprising more than 4,660 managed, franchised, owned and leased
hotels and timeshare properties with more than 765,000 rooms in 104
countries and territories. For 97 years, Hilton has been dedicated
to continuing its tradition of providing exceptional guest
experiences. The company's portfolio of 13 world-class global
brands includes Hilton Hotels & Resorts, Waldorf Astoria Hotels
& Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio
- A Collection by Hilton, DoubleTree by Hilton, Embassy Suites by
Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton,
Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand
Vacations. The company also manages an award-winning customer
loyalty program, Hilton HHonors®. Hilton HHonors members who book
directly through preferred Hilton channels have access to benefits
including preferred pricing, free standard Wi-Fi, as well as
digital amenities that are available exclusively through the
industry-leading Hilton HHonors app, where HHonors members can
check-in, choose their room, and access their room using a Digital
Key. Visit news.hiltonworldwide.com for more information and
connect with Hilton Worldwide on Facebook, Twitter, YouTube,
Flickr, LinkedIn and Instagram.
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version on businesswire.com: http://www.businesswire.com/news/home/20160713006530/en/
Investor ContactChristian Charnaux+1
703-883-5205christian.charnaux@hilton.comorMedia ContactAaron
Radelet+1 703-883-5804aaron.radelet@hilton.com
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