Marriott CEO Bill Marriott steps down

J.W. “Bill” Marriott, Jr, will step down as CEO of Marriott International in March 2012, as he celebrates 60 years of service to the company founded by his father J. Willard Marriott in 1927.

He will assume the role of executive chairman and remain chairman of the company’s board of directors.

Marriott will be succeeded as CEO by Arne Sorenson, the company’s current president and chief operating officer.

Sorenson, who joined Marriott in 1996, will be only the third CEO in Marriott’s 85-year history and the first non-family family to lead the global hotel giant.

In his blog, Marriott on the Move, Bill Marriott said: “There is no one more deserving or capable of assuming the role at this important juncture in the company’s history. Arne knows the business, lives our core values and has the respect and admiration of all of the company’s major stakeholders. I have the utmost confidence in Arne as I hand over the day-to-day reins of the business to him”.

Replacing Sorenson as chief operatings officer for Marriott International will be Bob McCarthy, a 35-year veteran of the company, who will also continue to have oversight for Global Lodging Services and The Ritz-Carlton Hotels.

Looking back over his decades with Marriott International, which Marriott has lead since his father died in 1985, Marriott said: “It’s amazing to think about what has been accomplished since that little root beer stand was opened so many years ago by my mom and dad in 1927.

“As we look to the future, I can honestly say I have never been more confident about our company.”