UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 19, 2019
MARRIOTT INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware | 1-13881 | 52-2055918 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
10400 Fernwood Road, Bethesda, Maryland | 20817 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (301) 380-3000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☒ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 19, 2019, the Board of Directors (the Board) of Marriott International, Inc. (the Company), upon recommendation of the Boards Nominating and Corporate Governance Committee, increased the size of the Board to fourteen (14) members and appointed Margaret M. McCarthy to the Board. The Board also appointed Ms. McCarthy to the Boards Audit Committee.
There is no arrangement or understanding between Ms. McCarthy and any other persons pursuant to which she was selected as a director. Since the beginning of the Companys last fiscal year through the present, there have been no transactions with the Company, and there are currently no proposed transactions with the Company in which the amount involved exceeds $120,000 and in which Ms. McCarthy had or will have a direct or indirect material interest within the meaning of Item 404(a) of Regulation S-K.
Ms. McCarthy will receive compensation as a non-employee director in accordance with the Companys director compensation practices described in its 2018 Proxy Statement, filed with the Securities and Exchange Commission on April 4, 2018.
Item 8.01. | Other Events. |
Important Additional Information and Where to Find It
Marriott will file a preliminary proxy statement with the United States Securities and Exchange Commission (the SEC) in connection with the solicitation of proxies for its 2019 annual meeting of stockholders. Marriott will furnish the definitive proxy statement to its stockholders, together with a WHITE proxy card. STOCKHOLDERS ARE STRONGLY ADVISED TO READ THE PROXY STATEMENT BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain a free copy of the proxy statement, any amendments or supplements to the proxy statement and other documents that Marriott files with the SEC from the SECs website at www.sec.gov or Marriotts website at www.marriottnewscenter.com as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the SEC.
Marriott, its directors, its executive officers and its nominees for election as director may be deemed participants in the solicitation of proxies from stockholders in connection with the matters to be considered at the 2019 annual meeting of stockholders. Information about certain of Marriotts directors and executive officers is set forth in Marriotts Proxy Statement for its 2018 Annual Meeting of Stockholders, which was filed with the SEC on April 4, 2018, which is available at the SECs website at www.sec.gov or Marriotts website at www.marriottnewscenter.com.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits. The following exhibit is furnished with this report:
Exhibit 99.1 | Press release issued on March 20, 2019, announcing the Boards appointment of Margaret M. McCarthy to the Board. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MARRIOTT INTERNATIONAL, INC. | ||||||
Date: March 20, 2019 | By: | /s/ Bancroft S. Gordon | ||||
Bancroft S. Gordon | ||||||
Vice President, Senior Counsel and Corporate Secretary |
Exhibit 99.1
Marriott International Appoints Margaret McCarthy to Board of Directors
Bethesda, MD, March 20, 2019 The Board of Directors of Marriott International, Inc. (NASDAQ: MAR) said today it has appointed Margaret M. McCarthy, Executive Vice President at CVS Health Corporation, as an independent director of the company, effective March 19, 2019. Ms. McCarthy will also be included in the companys slate of nominees for election at Marriotts upcoming 2019 Annual Meeting of Stockholders.
Ms. McCarthys appointment expands the membership of the Board to 14, 11 of whom are independent. She will also serve on the companys Audit Committee.
Meg brings a wealth of leadership experience to our Board from her over 30-year career in business and her military service, said Larry Kellner, Marriott Internationals Lead Director. We were drawn to Megs experience with consumer-facing companies undergoing transformational change as well as her knowledge of privacy and cybersecurity. Marriott has a strong and independent Board of Directors that provides critical guidance and advice to management. We are also committed to building a Board that has diverse perspectives and backgrounds reflecting the diversity of our guests, associates and owners. We are confident that Meg will be a valuable addition to the Marriott Board.
As Executive Vice President at CVS Health, Ms. McCarthy is a leader in the companys technology transition
following its acquisition of Aetna. As previously announced, Ms. McCarthy is slated to depart CVS Health in May. She brings substantial experience in data management and security.
Were thrilled to welcome Meg to our Board, said Arne Sorenson, Marriott International President and Chief Executive Officer. Her experience and expertise promise to make Meg a terrific addition to the Marriott Board. I look forward to her insights and leadership as we work to build Marriotts global hospitality brand.
Ms. McCarthy joined CVS Health through its acquisition of Aetna Inc. in 2018, where she had been Executive Vice President of Operations and Technology since 2010. At Aetna, she also served as the companys Chief Information Officer and Head of Business Solutions Delivery. Prior to joining Aetna in 2003, she was a senior Information and Technology executive at Cigna Corp., Catholic Health Initiatives and Franciscan Health System, and a Partner at Ernst & Young.
Ms. McCarthy currently serves on the Board of Directors of Brighthouse Financial, Inc. and First American Financial Corporation. She also serves on various advisory boards and councils, including the Financial Services Information Sharing and Analysis Center, MIT Center for Information Systems Research and the Board of Trustees of Providence College.
Ms. McCarthy holds a bachelors degree from Providence College and a masters degree in public health, hospital administration from Yale University. She served in the U.S. Navy Medical Services Corps as a Lieutenant at Bethesda Naval Hospital and in the U.S. Navy Reserves as a Lieutenant Commander.
Marriotts Board of Directors engaged Russell Reynolds Associates to assist in identifying and evaluating potential nominees.
With the addition of Ms. McCarthy, the 14 members of Marriotts Board of Directors are as follows:
| J.W. Marriott, Jr., Executive Chairman and Chairman of the Board, Marriott International, Inc. |
| Mary K. Bush, President, Bush International, LLC and Former Presidential Appointee as the U.S. Governments representative on the IMF Board |
| Bruce W. Duncan, Chairman of the Board and Former President and Chief Executive Officer, First Industrial Realty Trust, Inc. and Former Interim Chief Executive Officer and Director, Starwood Hotels & Resorts |
| Deborah Marriott Harrison, Global Officer, Marriott Culture and Business Councils, Marriott International, Inc. |
| Frederick A. Henderson, Former Chairman and Chief Executive Officer, SunCoke Energy, Inc. |
| Eric Hippeau, Managing Partner, Lerer Hippeau |
| Lawrence W. Kellner, President, Emerald Creek, Group, LLC, Marriott Internationals Lead Director |
| Debra L. Lee, Former Chairman and Chief Executive Officer, BET Networks |
| Aylwin B. Lewis, Former Chairman, President and Chief Executive Officer, Potbelly Corporation |
| Margaret M. McCarthy, Executive Vice President, CVS Health Corporation |
| George Muñoz, Principal, Muñoz Investment Banking Group, LLC |
| Steven S. Reinemund, Former Chairman and CEO, PepsiCo, Inc. and Former Dean of Business, Wake Forest University |
| Susan C. Schwab, Professor, University of Maryland and Former U.S. Trade Representative |
| Arne M. Sorenson, President and Chief Executive Officer, Marriott International, Inc. |
Marriotts Board will nominate these 14 directors as its recommended slate at the companys upcoming Annual Meeting.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is the worlds largest hotel company based in Bethesda, Maryland, USA, with more than 6,900 properties in 130 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts. The companys 30 leading brands include: Bulgari®, The Ritz-Carlton® and The Ritz-Carlton Reserve®, St. Regis®, W®, EDITION®, JW Marriott®, The Luxury Collection®, Marriott Hotels®, Westin®, Le Méridien®, Renaissance® Hotels, Sheraton®, Delta Hotels by MarriottSM, Marriott Executive Apartments®, Marriott Vacation Club®, Autograph Collection® Hotels, Tribute Portfolio, Design Hotels, Gaylord Hotels®, Courtyard®, Four Points® by Sheraton, SpringHill Suites®, Fairfield Inn & Suites®, Residence Inn®, TownePlace Suites®, AC Hotels by Marriott®, Aloft®, Element®, Moxy® Hotels, and Protea Hotels by Marriott®. The company now offers one travel program, Marriott Bonvoy, replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest®(SPG). For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com and @MarriottIntl.
Important Additional Information and Where to Find It
Marriott will file a preliminary proxy statement with the United States Securities and Exchange Commission (the SEC) in connection with the solicitation of proxies for its 2019 annual meeting of stockholders. Marriott will furnish the definitive proxy statement to its stockholders, together with a WHITE proxy card. STOCKHOLDERS ARE STRONGLY ADVISED TO READ THE PROXY STATEMENT BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain a free copy of the proxy statement, any
amendments or supplements to the proxy statement and other documents that Marriott files with the SEC from the SECs website at www.sec.gov or Marriotts website at www.marriottnewscenter.com as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the SEC.
Marriott, its directors, its executive officers and its nominees for election as director may be deemed participants in the solicitation of proxies from stockholders in connection with the matters to be considered at the 2019 annual meeting of stockholders. Information about certain of Marriotts directors and executive officers is set forth in Marriotts Proxy Statement for its 2018 Annual Meeting of Stockholders, which was filed with the SEC on April 4, 2018, which is available at the SECs website at www.sec.gov or Marriotts website at www.marriottnewscenter.com.
IRPR#1
Contact:
Connie Kim
301-380-4028
NewsRoom@marriott.com