|TORONTO, Aug. 23, 2005 - Four Seasons Hotels Inc. (TSX Symbol "FSH.SV";
NYSE Symbol "FS") announced today the appointment of John Davison, a senior
Four Seasons executive, as Chief Financial Officer. Mr. Davison replaces
Douglas Ludwig who is stepping down as CFO in order to take early retirement.
"The success of Four Seasons rests on a strong financial foundation," said Isadore Sharp, Chairman and Chief Executive Officer. "Doug Ludwig has been a significant contributor in establishing that foundation, and in building the team who will take it forward. We thank him for his years of service, and wish him well."
John Davison is being promoted from within the Company, having joined Four Seasons in 2002 after a 14-year career with IMAX Corporation. At IMAX he served as Chief Financial Officer for more than 10 years, before becoming President and Chief Operating Officer in 1999. Mr. Davison is a Chartered Accountant and Chartered Business Valuator, and received his Bachelor of Commerce from the University of Toronto.
"John was recruited to Four Seasons in 2002 as an important addition to our senior financial management team," said Mr. Sharp, "and he has since made an outstanding contribution to our business. His leadership skills and depth of international management experience make him well suited to lead our highly qualified corporate finance team."
Four Seasons currently operates 65 hotels in 29 countries and has more than 20 properties under development.
Source: Four Seasons Hotels and Resorts
|Also See:||Four Seasons Hotels Inc. Which Manages 65 Hotels Around the World, Reports Net Income of $15.8 million for the 2nd Qtr Ended June 30, 2005 Up from a Profit of $12.8 million in the Year-earlier / Hotel Operating Statistics / August 2005|
|Four Seasons Hotels Inc. Reports Net Earnings for the Year ended December 31, 2004 Increased to $33.2 million Compared to $5.4 million in 2003, Worldwide RevPAR Up 15% for the Year / Hotel Operating Statistics / February 2005|