Park Hotels 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.
Appointment of New Chief Accounting Officer
On December 20, 2016, the Board of Directors of Park Hotels & Resorts Inc. (the “Company”) appointed Mr. Darren W. Robb, age 39, as the Company’s Senior Vice President and Chief Accounting Officer, effective immediately. In this role, Mr. Robb will act as the principal accounting officer of the Company.
Prior to joining the Company, Mr. Robb most recently served as Vice President, Global Head of Financial Reporting & Accounting Policy of Hilton Worldwide Holdings Inc. (“Hilton”) (NYSE: HLT), a hospitality company, from April 2013 until November 2016. Prior to his tenure at Hilton, Mr. Robb served as a senior manager with KPMG LLP, an accounting firm, in that firm’s national office from October 2010 until April 2013. Prior to that, Mr. Robb was in various roles at KPMG LLP from 1999 until 2010, providing audit and advisory services to clients in the real estate and hospitality industries. Mr. Robb received his Bachelor of Business Administration degree from James Madison University and is a CPA, licensed in the Commonwealth of Virginia.
In connection with Mr. Robb’s appointment, he will receive an annual base salary of $325,000 (“Base Salary”) starting from the date of the completion of the previously announced spin-off of the Company from Hilton, the Company’s parent. Mr. Robb will also be eligible to receive an annual bonus targeted at 45% of his Base Salary and an annual grant of long-term incentive awards targeted at 75% of his Base Salary.
Mr. Robb has no family relationships with any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer of the Company. Mr. Robb is not a party to any transaction required to be disclosed to Item 404(a) of Regulation S-K.