“Mr. "[23], Sorenson has spoken out against President Trump's Executive Order 13769, a ban on travel from seven majority-Muslim countries, and its successors as potentially harmful to the U.S. tourism industry. In 2016, he led Marriott International’s $13.6-billion acquisition of Starwood Hotels & Resorts, catapulting the company’s total number of hotel rooms to more than 1.2 million. [22], In November 2016, Sorenson wrote an open letter to President-elect Donald Trump, encouraging him to take a collaborative approach to governing; to not pursue retribution against election rival Hillary Clinton; to "minimize divisiveness around these areas [of LGBT rights] by letting people live their lives and by ensuring that they are treated equally in the public square;" to initiate a major infrastructure program, without "connecting it to the repatriation of foreign earnings or by tying it to some philosophy of privatization of historically government functions;" to "make sure our borders are secured as well as our airports" without "clos[ing] America to travelers from around the world" by "roll[ing] out a global trusted traveler program to ensure that we focus our security resources on those who pose risk, not on the overwhelming majority who pose no risk;" "to adopt a transparent approach for future immigration" including steps "to ensure that these 11 million people [the illegal immigrant population of the United States] can help make America stronger by paying taxes, investing in the future and continuing to contribute to our communities;" "to attract and retain the best, brightest, most talented, hardest working people — wherever they come from;" and to enact "a dramatic simplification of our tax code that closes loopholes and unnecessary tax preferences, lowers tax rates to levels comparable to the rest of the industrialized world and removes market distortions as much as possible" enabling a move to "a territorial [tax] system — without losing revenues or increasing our budget deficit. Marriott President Arne Sorenson Gives Up Salary For Rest of 2020 For Staff Amid Coronavirus Outbreak, This is all in addition to the decision to begin furloughing what executives at Marriott International, Incorporated expected to be tens of thousands of staff members of hotel and resort properties. Approximately 66 percent of the 4,000 corporate employees at the headquarters in Bethesda in Maryland — as well as members of corporate staff abroad — have been slated to be furloughed between 60 days and 90 days as they receive a significant fraction of their salaries; while members of corporate staff who are not furloughed are subject to pay cuts of 20 percent and reduced workweeks. Source: Marriott International, Incorporated. BETHESDA, Md., May 3, 2019 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) today announced that President and CEO Arne Sorenson was diagnosed on Wednesday with stage 2 pancreatic cancer. Last month, Sorenson delivered the somber news of the state of Marriott International, Incorporated via this video which was shared on Twitter…, A message to Marriott International associates from President and CEO Arne Sorenson. Sorenson, 60, received the diagnosis from a medical team at Johns Hopkins Hospital in Baltimore after a series of tests. He is the President and Chief Executive Officer of Marriott International. By most measures, Sorenson has enjoyed extraordinary success. Running is one of the greatest joys of my life. In 1983 he graduated from the University of Minnesota Law School, and he went on to become a partner at Latham & Watkins. This message was originally sent as an email to Marriott International associates. On May 3, 2019 he announced that he had a treatable form of stage two pancreatic cancer and is in treatment at Johns Hopkins School of Medicine. [20] In 2016, he announced that he formally opposed Indiana's proposed Religious Freedom Restoration Act,[21] and became one of many CEOs to ask for a full repeal of North Carolina's House Bill 2. Your email address will not be published. Today’s global health and economic crisis is truly unprecedented, worse than anything most companies have ever faced. https://chiefexecutive.net/2019-ceo-of-the-year-marriott-arne-sorenson What Is the Longest Drivable Distance on Earth? Post was not sent - check your email addresses! Incorrect information has been circulating lately pertaining to the compensation of Arne M. Sorenson, who is the current president and chief executive officer of Marriott International, Incorporated, who was initially slated to receive the first increase in his base salary of $1,300,000.00 in three years…. Marriott International, Incorporated is the largest lodging company in the world, with almost 1,400,000 rooms in approximately 7,300 hotel and resort properties under 30 brands worldwide — but since the current 2019 Novel Coronavirus pandemic, the overall business operations in general has been reduced by almost 75 percent below normal levels, which Sorenson claimed is significantly worse than the global financial crisis of 2007 and 2008 and the incidents which occurred on Tuesday, September 11, 2001 combined. ... More from Arne Sorenson 115 articles. pic.twitter.com/OwsF14TZgb, — Marriott International (@MarriottIntl) March 19, 2020. Friday morning, Marriott released a statement regarding the health of CEO Arne Sorenson. Arne Sorenson is president and chief executive officer of Marriott International Inc. In fact, I believe that more leaders should be modeling the way — something which has been notably absent — more than ever during these difficult times due to the 2019 Novel Coronavirus pandemic. One chief executive officer of a franchise company which operates some hotel and resort properties that are under the brand portfolio of Marriott is taking a cut in pay of approximately 75 percent; the salaries of executive employees of that franchise company have been reduced by half; and property level managers have had their salaries reduced by 30 percent — all of which is to last for a minimum of two months before they are re-evaluated.

Marriott International CEO Arne Sorenson said Tuesday he will have surgery for pancreatic cancer over the holidays but will continue to run the company. The stock price of a share of Marriott International, Incorporated was worth $151.43 on Tuesday, December 31, 2019. …but of course, anything can change between now and the end of the year 2020. Marriott International CEO Arne Sorenson said Tuesday he will have surgery for pancreatic cancer over the holidays but will continue to run the company. “The virus is in so many different markets of the United States.” …but the article neglects to mention that many hotel and resort properties are operated by franchisees and not by Marriott International, Incorporated itself. He was elected to Marriott’s board of directors in […] He recently participated in PurpleStride Washington D.C., the walk to end pancreatic cancer, and shared his experience in a LinkedIn blog post.His article is reposted here with permission. Required fields are marked *. This site uses Akismet to reduce spam. As expected, Sorenson replaced him, becoming the first non-family member to head Marriott. However, in March 2020, in light of the rapidly evolving coronavirus (COVID-19) situation, the Committee discussed with management the appropriateness of adjusting senior executive compensation as part of the Company’s numerous initiatives to mitigate the negative financial and operational impacts of COVID-19. [16][17], Sorenson is a registered Democrat,[18] but donated to Mitt Romney's 2012 election campaign. In 2012, Sorenson became the third CEO in the company’s history, having held several positions since joining in 1996, including president and chief operating officer, chief financial officer and president of Continental European Lodging. [7], Sorenson is the first person outside the Marriott family to lead the company. Born in Tokyo, Japan, the son of a Lutheran pastor, Sorenson is married and has four children. Sorenson … With that assumption — ceteris paribus, or other things being equal — the total compensation for Sorenson for 2020 could be worth $9,353,620.00 instead of $13,435,887.00…. Save my name, email, and website in this browser for the next time I comment. Sorry, your blog cannot share posts by email. Marriott International Inc.’s MAR 0.64% chief executive, Arne Sorenson, said Tuesday that he will have surgery to treat his pancreatic cancer. But look at us now. But in a video message released Monday, CEO Arne Sorenson said the mandate is being extended to guests. Sorenson, a co-chairman of the Business Roundtable’s task force on Covid-19, declined a request for an interview.”, The article then focuses on a married couple — both of whom work for hotel properties which are under the brand portfolio of Marriott — who have since lost their jobs and the combined income of approximately $1,700.00 per week…. Editor’s Note: Arne Sorenson, CEO of Marriott International, announced his pancreatic cancer diagnosis in May 2019. Arne Sorenson is the president and CEO of Marriott International. [8][9] On March 31, 2012, Sorenson became the President and CEO of Marriott International Inc.[10][11], In April 2019, Sorenson was named "CEO of the Year" for 2019 by Chief Executive magazine. “Health experts have made it clear that wearing face coverings in public spaces is one of the easiest steps that we can all take to protect one another and reduce the spread of COVID-19,” Sorenson said in the video, after removing his own cloth mask. Sign Up to Receive Chief Executive MagazineKey Benchmarks for Manufacturing CompaniesIs #CancelCulture Preventing Companies From Doing The Right Thing? Your email address will not be published. Part 77, Travel Alert January 2021: Waivers For International Travel to the United States, What is Wrong With This Photograph? On May 3, 2019 he announced that he had a treatable form of stage two pancreatic cancer and is in treatment at Johns Hopkins School of Medicine. Arne Sorenson 12 mins ago What we know about potential protests ahead of Joe Biden's inauguration Joe Biden to shore up Affordable Care Act after Trump assault on health law Although I understand that Sorenson has undergone medical issues from which I hope that he recovers completely, I believe that he could demonstrate even more of a leadership role by voluntarily foregoing — or donating — more of his compensation to those who truly need it in these difficult times. CEO Arne Sorenson says Marriott's business dropped 90% when the pandemic first began and it’s still down as much as 65% for August. That is not to say that the disparity between wealthy corporate executives and employees of the same company is not staggering. [14], Born in Tokyo, Japan, the son of a Lutheran pastor,[15] Sorenson is married and has four children. Sorenson will remain in his role while undergoing treatment. Marriott Jr. as CEO", "Arne Sorenson To Succeed Marriott Jr. As Marriott International CEO", https://www.bizjournals.com/washington/news/2019/11/07/marriott-ceo-arne-sorenson-to-have-cancer-surgery.html, "What The CEO Of 2019 Thinks About Caring For His People", "Announcing the Great Place to Work CEO For All Leadership Awards", "Marriott CEO Arne Sorenson on COVID-19 "never seen anything like it in 92 years, "Q&A with Arne Sorenson: Architect of Change", "Marriott CEO Sorenson Offers Update on Cancer Treatment", "When CEOs should disclose serious health problems", "This CEO Says Joe Biden Called Business Leaders 'a Bunch of Cowards, "Marriott CEO Arne Sorenson Is The 2019 CEO Of The Year", "Marriott CEO Arne Sorensen: Indiana Law 'We Will Not Stand For It, "Marriott CEO Arne Sorenson blasts North Carolina over HB 2 - Gay Star News", "Marriott CEO's Open Letter To President-Elect Trump", "Marriott CEO urges Trump to improve ties with Cuba", https://en.wikipedia.org/w/index.php?title=Arne_Sorenson_(hotel_executive)&oldid=999819665, University of Minnesota Law School alumni, American chief executives of travel and tourism industry companies, LGBT rights activists from the United States, Chief executives in the hospitality industry, BLP articles lacking sources from March 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 12 January 2021, at 03:20. Although hourly employees will still receive their pay as normal, 6,500 of the 9,000 employees of that franchise company have lost their jobs.

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