February 7, 2013
Now that Four Seasons Hotels and Resorts is on the hunt for a new CEO, this transition will influence the legacy of the brand and its front face to competitors.
The luxury hotel chain announced Feb. 5 that Kathleen Taylor will be leaving her role as CEO and the company will begin a search for a replacement. The new Four Seasons CEO will be someone who is well-known and experienced in the hospitality industry, which the brand can attract due to its position in the luxury hotel industry, experts say.
“[Four Seasons] is a majorly successful, highly-though-of company and brand in the hotel business, so it is the kind of company that can attract the top talent in the world,” said John Challenger, CEO of global outplacement consultancy Challenger, Gray & Christmas, Chicago.
“There is always an important issue of dealing with the hotel owners and providing services for them,” he said. “It can take incredible diplomacy and emotional intelligence to manage strong hotel owners and cater to them, especially in a luxury hotel like this.”
Mr. Challenger is not affiliated with Four Seasons, but agreed to comment as an industry expert.
Four Seasons declined to comment directly.
Moving on
Ms. Taylor’s tenure at Four Seasons lasted almost 25 years. She served as CEO of the privately-held company since 2010, after assuming the role from founder Isadore Sharp who still remains chairman and a shareholder.
Now, Four Seasons is faced with the task of finding Ms. Taylor’s successor and is using executive search firm Ferguson Partners Ltd.
Four Seasons’ nine-member executive leadership team is currently managing the company with oversight from the Board of Trustees.
Chairman of the Kingdom Holding Company, long-term shareholders of Four Seasons, His Royal Highness Prince Alwaleed Bin Talal issued a statement that said, “We are confident that we can quickly identify a successor to Katie who shared the Four Seasons vision and values, and that the Company’s strong executive leadership team, which has the full support of the shareholders, will provide the leadership and continuity necessary to guide us through a seamless transition.”
The new chief
Four Seasons will likely be looking at candidates who are already in the realm of hospitality and luxury hotel management.
This could potentially be executives who are the next big stars or who are the number-twos at major companies, Mr. Challenger said.
“They will be certainly looking for a CEO that will address the issues that were not being met,” Mr. Challenger said.
The successor to Ms. Taylor should be someone who is well-versed in the luxury hotel industry and could likely be someone working at a competitor brand to Four Seasons.
“The new CEO will obviously be someone with immense experience in the hospitality industry and a long-term global vision for the future of Four Seasons,” said D.M. Banks, director at DMB Public Relations, New York.
Regardless of where the new CEO comes from, it is imperative that they have the same Four Seasons vision to keep the brand a strong leader in the hospitality industry.
Four Seasons New York Ty Warner master bathroom
“With such strong leaders in Kathleen Taylor and Isadore Sharpe for so many years, it is vital to bring someone in with the same vision for the brand,” Mr. Banks said.
“Four Seasons has taken the steps to go private and bring in substantial leaders with large-scale financial backing, and the new CEO and Board will certainly stay focused on maintaining and strengthening the brand as a global leader in luxury hospitality,” he said.
Staying the same
However, changes in hotel executives and ownership usually do not mean much for guests of the hotel.
For example, when Conglomerate Sahara India Pariwar completed the $575 million purchase of the majority of Fairmont-managed The Plaza Hotel in New York Nov. 27, slight changes were planned but the luxury status was not compromised (see story).
Guests of the Four Seasons should not be concerned with the transition process.
“Companies change CEOs like baseball managers, I do not think that this will be something that guests are going to worry about because there will not be an immediate change in quality,” Challenger, Gray & Christmas ‘ Mr. Challenger said. “These things take time.”
Final take
Erin Shea, editorial assistant on Luxury Daily
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