Wyndham Hotels & Resorts on Tuesday said David Wyshner stepped down as chief financial officer. Effective immediately, Wyshner will move into a senior advisory role and treasurer and executive vice president for the Parsippany-based company, Michele Allen, will succeed him as CFO.
Wyshner will serve in the advisory position, reporting to President and Chief Executive Officer Geoff Ballotti, until March 1, 2020.
“As the CFO of Wyndham Worldwide and later Wyndham Hotels & Resorts, David was absolutely instrumental in the divestiture of our European Vacation Rentals Business, the acquisition of La Quinta Holdings, our spin-off from our parent company, [and] establishing a new Finance leadership team,” Ballotti said in a prepared statement.
Allen is a 20-year veteran of Wyndham Hotels, Wyndham Worldwide and Cendant Corp. previously serving as global senior vice president of finance and controller for the former Wyndham Hotel Group, and senior vice president of finance for Wyndham Worldwide.
“Michele is an exceptional leader whom I’ve had the pleasure to work alongside for over a decade,” Ballotti said. “Her readiness to assume this role was part of our board’s ongoing succession planning process. She personally knows our leadership teams around the world and understands this business inside-out. I am confident she will hit the ground running with the full support of our team here in New Jersey and around the world.”
Wyndham also announced that Deputy Treasurer Barry Goldschmidt will take on the role of treasurer.
Hotel franchising company Wyndham Hotels & Resorts boasts more than 9,200 hotels across over 80 countries – adding up to approximately 822,000 rooms – across its 20-brand portfolio.