Lauren Hobart and Grant Reid Appointed Independent Directors of Marriott | NewsBust Lauren Hobart and Grant Reid Appointed Independent Directors of Marriott | NewsBust

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Lauren Hobart and Grant Reid Appointed Independent Directors of Marriott

By Amit - March 20, 2023

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(16/03/23)
 
Lauren R. Hobart, President and CEO of Dick’s
Sporting Goods, and Grant F. Reid, former President and CEO of
Mars, have been elected as independent directors of Marriott
International.

Both are expected to be included in the company’s
slate of nominees for election at its upcoming 2023 annual meeting
of stockholders.

“Lauren and Grant both have outstanding track
records as chief executives of consumer-focused companies, a
history of driving growth through technology, innovation and
digital operations, and experience building strong company
cultures,” said Frederick “Fritz” Henderson, Marriott
International’s Independent Lead Director. “We are thrilled to
have them join the board and are confident that their fresh
perspectives andcontributions will help advance the company’s
strategy and growth.”

Lauren R. Hobart

Lauren Hobart is the third CEO of Dick’s Sporting
Goods in the
company’s 75-year history and the first non-family member CEO.

She joined Dick’s in February 2011 as
Senior Vice President and Chief Marketing Officer. In her
time as CMO, Lauren revamped the company’s marketing efforts,
drove significant improvement in the return on investment of the
marketing spend and was instrumental in developing and launching
Dick’s Calia brand.

Lauren was promoted to Executive Vice
President and CMO and later to Executive Vice President, Chief
Customer & Digital Officer. She became President of Dick’s in May
2017, overseeing the stores, marketing, e-commerce, technology,
human resources, communications, legal and strategy & analytics
organizations. Lauren became President and CEO in February 2021.

Lauren has also served on Dick’s board of
directors since January 2018 and is President of The Dick’s
Sporting Goods Foundation. Under her leadership, the foundation developed its signature Sports
Matter initiative in 2014, which has enabled over one million
children to have access to sports.

Prior to joining Dick’s, Lauren spent 14 years at PepsiCo in various leadership roles
and before that she worked at Wells Fargo Bank and JP Morgan
Chase.

“Lauren is a valuable addition to Marriott’s board
of directors,” said David Marriott, Chairman of the Board for
Marriott International. “Lauren’s significant impact on shaping a
culture of inclusivity at DICK’S while enhancing the teammate and
customer experience will benefit Marriott as we continue our
efforts to create a positive and sustainable impact wherever we do
business.”

Grant Reid served as President and CEO of Mars, a
position he held for almost nine years, and led the company during
a period of significant growth and transformation. He announced
his retirement in June 2022 after a 34-year career with the
company.

As CEO, Mr. Reid fused performance with purpose,
delivered sustainable growth, ramped up Mars’ digital
capabilities, built its iconic brands and expanded into newer
territories like veterinary health, pet services, and healthy
snacking. As a result, under Mr. Reid’s leadership, Mars’ annual
sales grew by more than 50% to nearly $45 billion, and its global
associate workforce more than doubled from 60,000 to 140,000.

During his tenure as CEO, Grant championed
Mars’ work on environmental issues, launching its $1 billion
Sustainable in a Generation Plan in 2017 and, more recently,
driving coalitions to accelerate cross-industry action, including
being asked by the former Prince of Wales to serve as chair of the
Sustainable Markets Initiative’s (SMI) Agribusiness Task Force.

“We are excited to welcome Grant to Marriott’s
board of directors and look forward to his contributions,” said
Mr. Marriott. “Grant brings with him a wealth of experience,
having led a family-owned company that produces some of the
world’s most beloved and iconic brands. His acumen in navigating
the complexity of global supply chains and his commitment to
people and our planet will help advance Marriott’s operations and
core values.”

With the election of Lauren and Grant, the
Marriott International board will expand to 14 directors, 11 of
whom are independent. The board size is expected to be reduced to
13 at Marriott International’s annual meeting, at which one
current director, having reached the age limit for directors under
Marriott International’s Governance Principles, is not expected to
be nominated for re-election by the board.

The current members of Marriott International’s board of
directors are:

David S. Marriott, Chairman of the Board; Former
President, U.S. Full Service Managed by Marriott, Marriott
International, Inc.;

Anthony G. Capuano, President and Chief Executive
Officer, Marriott International, Inc.;

Isabella D. Goren, Former Chief Financial Officer,
American Airlines, Inc. and AMR Corporation;

Deborah Marriott Harrison, Global Cultural
Ambassador Emeritus, Marriott International, Inc.;

Frederick A. Henderson, Marriott International’s
Lead Director; Former Chairman and Chief Executive Officer,
SunCoke Energy, Inc.;

Eric Hippeau, Managing Partner, Lerer Hippeau;

Lauren R. Hobart, President and Chief Executive
Officer, Dick’S Sporting Goods;

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, Former Executive Vice
President, CVS Health Corporation;

George Muñoz, Principal, Muñoz Investment Banking
Group, LLC;

Grant F. Reid, Former President and Chief
Executive Officer, Mars, Incorporated;

Horacio D. Rozanski, President and Chief Executive
Officer, Booz Allen Hamilton Inc.; and

Susan C. Schwab, Professor Emerita, University of
Maryland and Former U.S. Trade Representative.

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Amit

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