Travel + Leisure Co. Announces Retirement of CFO Mike Hug in 2025
Travel + Leisure Co. (NYSE:TNL) announced that Chief Financial Officer Mike Hug will retire by June 1, 2025, after more than 25 years with the company. The company has initiated a search for his replacement, considering both internal and external candidates.
Hug, who has served as CFO since the company's spin-off from Wyndham Hotels & Resorts in 2018, played a key role in the company's evolution to Wyndham Destinations and later in acquiring the Travel + Leisure brand in 2021. He previously led financial services teams, IT operations, and Wyndham Consumer Finance operations. He will continue in his role until a successor is identified or until his retirement date, ensuring an orderly transition.
Travel + Leisure Co. (NYSE:TNL) ha annunciato che il Chief Financial Officer Mike Hug si ritirerà entro il 1° giugno 2025, dopo oltre 25 anni con l'azienda. L'azienda ha avviato una ricerca per il suo successore, considerando sia candidati interni che esterni.
Hug, che ha ricoperto il ruolo di CFO dall'uscita dell'azienda da Wyndham Hotels & Resorts nel 2018, ha avuto un ruolo chiave nell'evoluzione dell'azienda verso Wyndham Destinations e in seguito nell'acquisizione del marchio Travel + Leisure nel 2021. In precedenza ha guidato team di servizi finanziari, operazioni IT e operazioni di Wyndham Consumer Finance. Continuerà a ricoprire il suo ruolo fino all'identificazione di un successore o fino alla sua data di pensionamento, garantendo una transizione ordinata.
Travel + Leisure Co. (NYSE:TNL) anunció que el director financiero Mike Hug se retirará antes del 1 de junio de 2025, tras más de 25 años en la empresa. La compañía ha iniciado una búsqueda de su reemplazo, considerando tanto candidatos internos como externos.
Hug, quien ha sido CFO desde la escisión de la empresa de Wyndham Hotels & Resorts en 2018, jugó un papel clave en la evolución de la empresa hacia Wyndham Destinations y más tarde en la adquisición de la marca Travel + Leisure en 2021. Anteriormente, dirigió equipos de servicios financieros, operaciones de TI y operaciones de Wyndham Consumer Finance. Continuará en su puesto hasta que se identifique un sucesor o hasta su fecha de jubilación, asegurando una transición ordenada.
Travel + Leisure Co. (NYSE:TNL)는 최고 재무 책임자 Mike Hug가 2025년 6월 1일 이전에 은퇴한다고 발표했습니다. 그는 회사에 25년 이상 재직해 왔습니다. 회사는 내부 및 외부 후보자를 모두 고려하여 그의 후임자를 찾고 있습니다.
Hug는 2018년 Wyndham Hotels & Resorts에서 분사한 이후 CFO로 재직해 왔으며, 회사가 Wyndham Destinations로 발전하는 데 중요한 역할을 했고, 2021년에는 Travel + Leisure 브랜드를 인수하는 데도 기여했습니다. 그는 이전에 재무 서비스 팀, IT 운영 및 Wyndham Consumer Finance 운영을 이끌었습니다. 후임자가 결정될 때까지 또는 은퇴 날짜까지 그의 역할을 계속 수행하여 원활한 전환을 보장할 것입니다.
Travel + Leisure Co. (NYSE:TNL) a annoncé que le directeur financier Mike Hug prendra sa retraite d'ici le 1er juin 2025, après plus de 25 ans au sein de l'entreprise. La société a lancé une recherche pour son remplacement, en envisageant à la fois des candidats internes et externes.
Hug, qui a occupé le poste de CFO depuis la scission de l'entreprise avec Wyndham Hotels & Resorts en 2018, a joué un rôle clé dans l'évolution de l'entreprise vers Wyndham Destinations et, plus tard, dans l'acquisition de la marque Travel + Leisure en 2021. Auparavant, il a dirigé des équipes de services financiers, des opérations informatiques et Wyndham Consumer Finance. Il continuera à exercer ses fonctions jusqu'à ce qu'un successeur soit identifié ou jusqu'à sa date de départ à la retraite, garantissant ainsi une transition ordonnée.
Travel + Leisure Co. (NYSE:TNL) gab bekannt, dass der Chief Financial Officer Mike Hug bis zum 1. Juni 2025 in den Ruhestand gehen wird, nach mehr als 25 Jahren im Unternehmen. Das Unternehmen hat die Suche nach einem Nachfolger eingeleitet, wobei sowohl interne als auch externe Kandidaten in Betracht gezogen werden.
Hug, der seit der Abspaltung des Unternehmens von Wyndham Hotels & Resorts im Jahr 2018 als CFO tätig ist, spielte eine Schlüsselrolle in der Entwicklung des Unternehmens hin zu Wyndham Destinations und später bei der Übernahme der Marke Travel + Leisure im Jahr 2021. Zuvor leitete er Teams im Bereich Finanzdienstleistungen, IT-Betrieb und Wyndham Consumer Finance. Er wird weiterhin in seiner Funktion tätig sein, bis ein Nachfolger gefunden ist oder bis zu seinem Ruhestand, um einen ordnungsgemäßen Übergang zu gewährleisten.
- Company has sufficient time to ensure orderly CFO transition
- Strong financial leadership team already in place
- Company reported to be in outstanding financial shape
- Loss of experienced CFO with 25+ years of company knowledge
Company undergoing search for replacement
Travel + Leisure Co. Chief Financial Officer Mike Hug to retire in 2025 (Photo: Business Wire)
The company has begun a search for Hug’s replacement, which will include consideration for both internal and external candidates. Hug will continue to serve as CFO until the earlier of (i) a date that is mutually agreeable to Hug and the Company after a successor has been identified and (ii) June 1, 2025.
“Mike has seen our company evolve from its adolescence into a leading company in a vastly different industry than the one he joined more than 25 years ago,” said Michael D. Brown, President and Chief Executive Officer of Travel + Leisure Co. “Mike has dedicated his career to growing this company and serving our customers, associates, and shareholders, and I am grateful for his leadership and guidance. He leaves the company in outstanding financial shape with a strong financial leadership team in place to ensure an orderly transition.”
Having served more than 25 years with the company, Hug was instrumental in the company’s evolution to Wyndham Destinations as an independent public company after spinning off Wyndham Hotels & Resorts in June 2018. He helped Wyndham Destinations acquire the iconic Travel + Leisure brand in 2021 and become Travel + Leisure Co., aligned with the strategy to create a dynamic multi-brand vacation ownership and membership travel company.
Prior to his current role, Hug served as Chief Financial Officer for Wyndham’s timeshare business where he led all financial services teams, information technology operations, and oversaw Wyndham Consumer Finance operations. Previously, Hug served as Senior Vice President and Controller. He joined the company in 1999 as Vice President of Finance for the Wyndham Hospitality Services Group. Before joining Wyndham, he spent 11 years in public accounting at one of the Big Four public accounting firms.
Hug will continue in his role until his retirement and will work closely with the leadership team and the Board of Directors to ensure an orderly transition.
About Travel + Leisure Co.
Travel + Leisure Co. (NYSE: TNL) is the world’s leading membership and leisure travel company, providing more than six million vacations to travelers every year. The company operates a portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they’re traveling the world or staying a little closer to home. With hospitality and responsible tourism at its heart, the company’s 19,000+ dedicated associates around the globe help the company achieve its mission to put the world on vacation. Learn more at travelandleisureco.com.
Forward-Looking Statements
This press release includes “forward-looking statements” as that term is defined by the Securities and Exchange Commission (“SEC”). Forward-looking statements are any statements other than statements of historical fact, including statements regarding our expectations about our CFO transition. Forward-looking statements are subject to risks and uncertainties that could cause actual results of Travel + Leisure Co. and its subsidiaries (“Travel + Leisure Co.” or “we”) to differ materially from those discussed in, or implied by, the forward-looking statements. Factors that might cause such a difference include, but are not limited to, risks associated with our ability to successfully identify a successor for our CFO in connection with his retirement and those other factors disclosed as risks under “Risk Factors” in documents we have filed with the SEC, including in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 21, 2024. We caution readers that any such statements are based on currently available operational, financial and competitive information, and they should not place undue reliance on these forward-looking statements, which reflect management’s opinion only as of the date on which they were made. Except as required by law, we undertake no obligation to review or update these forward-looking statements to reflect events or circumstances as they occur.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241220132409/en/
Investor Contact:
Travel + Leisure Investor Relations
(407) 626-4050
IR@travelandleisure.com
Media Contact:
Steven Goldsmith
Public Relations
(407) 626-5882
Media@travelandleisure.com
Source: Travel + Leisure Co.
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