Chief Operating Officer of La Quinta
A. Brent Spaeth Named Executive Vice President of Corporate Administration
DALLAS (Feb. 24, 2005) – La Quinta Corporation today announced that David L. Rea has been promoted to President and Chief Operating Officer. He will continue to report to Francis W. (“Butch”) Cash, who will remain the Company’s Chairman and Chief Executive Officer. Mr. Rea will have responsibility for company owned hotel operations, sales and marketing, information systems, human resources and administration. The Company will immediately commence a search for a new Chief Financial Officer to replace Mr. Rea.
“This promotion recognizes the tremendous contributions David has made to La Quinta since joining us five years ago,” said Mr. Cash. “His leadership and experience will be instrumental in continuing to help grow our company and position us for the future.”
“I appreciate the confidence the Board of Directors has shown in me for the opportunity to assist Butch in leading this outstanding organization,” commented Mr. Rea. “We have great assets, great brands and great people. I look forward to continuing to work with Butch and our strong management team to build on our success and enhance shareholder value.”
In other management changes, Wayne B. Goldberg has been promoted to Executive Vice President of Operations. A. Brent Spaeth has been promoted to Executive Vice President of Corporate Administration. Mr. Spaeth will continue in his role as Senior Franchise Operations Officer.
“I am pleased to also announce the promotions of Wayne and Brent,” said Mr. Cash. “Both of these individuals have greatly contributed to the success of our company. Their promotions display the depth of talent and strength of our executive team.”
Reporting to Mr. Cash will be the President and Chief Operating Officer; the Chief Development Officer and President of the Company’s franchising organization; the General Counsel; and the to-be-identified Chief Financial Officer.
“We have some of the best and brightest people in the lodging industry working at La Quinta,” commented Mr. Cash. “The changes we have made in our executive team demonstrate our commitment to developing talent within our company to provide continuity in leadership and the execution of our business plan.”
About La Quinta Corporation
La Quinta Corporation
|Also See:||La Quinta Acquiring 86 Baymont Inns & Suites and the Baymont Franchise System of 84 Hotels for $395 million in Cash / July 2004|
|David L. Rea Named CFO of La Quinta Inns, Inc. and Stephen T. Parker Appointed SVP of Marketing / June 2000|
|David L. Rea Appointed CFO at Red Roof Inns / Oct 1998|