News for the Hospitality Executive
HVS Executive Search presents Top-Performing CEO Award
to Jeffery Boyd of priceline.com
and Stephen Holmes of Wyndham Worldwide & Top-Performing Board Award to
Starwood Hotels & Resorts Worldwide, Inc.
June 10, 2010: Keith Kefgen, CEO of HVS Executive Search, and Steve Rushmore, President & Founder of HVS, presented the annual HVS Hospitality Leadership Awards during the 32nd Annual New York University International Hospitality Industry Investment Conference, Monday, June 7th 2010 at the New York Marriott Marquis.
For the first time in the history of these awards, there are two winners for the top performing CEO: Jeffery Boyd, President & Chief Executive Officer of priceline.com (NQ: PCLN), who won this distinction last year as well, and Stephen Holmes, Chairman and CEO of Wyndham Worldwide (NYSE: WYN). The award for Priceline was accepted by Ralph Bahna, Chairman of the company’s Board of Directors.
On this occasion, Holmes stated, “It is an honor to be recognized by HVS. This award is truly a reflection on our employees’ effort and determination that allowed Wyndham to persevere and have a successful 2009 year.”
For the Top-Performing Board of 2009, HVS presented the award to Vasant Prabhu, Vice Chairman and CFO on behalf of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT). According to Bruce Duncan, Starwood’s Chairman of the Board, “We thank HVS for this wonderful distinction. This honor is particularly gratifying given that 2009 was the most challenging year for our industry in our lifetimes. Together with Starwood's Senior Leadership Team, we believe that we have emerged from the global economic crisis stronger than before, and in fighting form. We have the scale to invest in brand-building and demand creation, the financial flexibility to take advantage of transaction opportunities and the global presence to grow wherever demand grows. We are well positioned to take advantage of the recovery."
The Top-Performing CEO of the Year Award is presented annually to the CEO who offers the best value to shareholders based on a Pay-for-Performance model designed by Keith Kefgen. The model compares CEO compensation to such indicators as stock appreciation, market capitalization, and increases in EBITDA or FFO, to determine the top-performing CEO. HVS Executive Search has presented the Top-Performing CEO Award each year since 1994. This is the first time in the award’s 17-year history that there have been joint winners for this award. It is also the first time that the top spot has been won by the same executive two years in a row, by Jeffery Boyd of priceline.com.
The Top-Performing Board of Directors of the Year Award is presented annually to the board of directors that is most effective in leading a public hotel company. Using a corporate governance model designed by Keith Kefgen, HVS Executive Search tabulates rankings that compare board makeup, independence, committee structure, conflicts of interest and a commitment to pay-for-performance. HVS Executive Search has presented the Top-Performing Board Award each year since 1999. This year’s winner, Starwood Hotels & Resorts Worldwide, Inc., also won the award in 2002 and 2007.
About HVS Executive Search
|Also See:||HVS International Honors the Board of Directors of Four Seasons Hotels Corp. and Hilton's Steve Bollenbach with Lodging Leadership Awards / June 2006|