DiamondRock Hospitality Company (NYSE:DRH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March12, 2018, DiamondRock Hospitality Company (the “Company”) announced the appointment of Jay Johnson, age 41, as the Company’s Executive Vice President and Chief Financial Officer, effective April1, 2018.
Prior to joining the Company, Mr.Johnson served as Senior Vice President and Treasurer of Host Hotels& Resorts (NYSE: HST), a lodging real estate investment trust. In this role, he was responsible for Host’s financing activities globally, including all capital raising, liability management, corporate liquidity, enterprise risk management and acquisition financing. While at Host, he completed over $14 billion in debt and equity capital transactions in 12 countries and managed a balance sheet that encompassed over $5 billion of available debt capital. Mr.Johnson served as a member of the senior management team and managed Host’s relationships with financial institutions, fixed income investors and ratings agencies. He currently serves on the Real Estate Capital Policy Advisory Committee of The Real Estate Roundtable. Mr.Johnson received an MBA from Harvard Business School and a BA in economics from Morehouse College.
It is expected that Mr.Johnson will enter into a severance agreement with the Company on terms consistent with those in the severance agreements between the Company and its other executive vice presidents.
Item 5.02. Regulation FD Disclosure
On March12, 2018, the Company announced that Mr.Johnson was appointed Executive Vice President and Chief Financial Officer and that Briony Quinn was promoted to Senior Vice President and Treasurer. Copies of the Company’s press releases relating to Mr.Johnson and Ms.Quinn are attached to this Current Report as Exhibit99.1 and Exhibit99.2, respectively, and are incorporated by reference herein. The press releases have also been posted in the investor relations/presentations section of the Company’s website at www.drhc.com.
The information in this Item 5.02 of this Current Report, including the exhibits attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing.
Item 5.02. Financial Statements and Exhibits.