DiamondRock Hospitality Co. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by DiamondRock Hospitality Company on September 29, 2016. The report discloses a corporate governance event regarding the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The Board of Directors appointed Mr. William J. Shaw as a new director, effective October 1, 2016. This appointment increases the size of the Board from seven members to eight members. Mr. Shaw was also appointed to the Audit, Compensation, and Nominating & Corporate Governance Committees.
Outlook, Risks, and Management Commentary
Mr. Shaw brings significant industry experience, having served as Chairman of the Board of Marriott Vacations Worldwide Corporation and previously holding senior executive roles at Marriott International, including President and Chief Operating Officer. He will receive standard compensation for non-employee directors and will enter into a standard indemnification agreement. The filing states there are no undisclosed arrangements or transactions involving Mr. Shaw required under Item 404(a) of Regulation S-K.
Key Facts for Investor Verification
- Effective date of the new director appointment is October 1, 2016.
- The Board size has increased to eight members.
- Mr. Shaw has been assigned to all three standing committees: Audit, Compensation, and Nominating & Corporate Governance.
- No special compensation arrangements or undisclosed transactions were reported in connection with this appointment.