Lauren Hobart and Grant Reid Appointed Independent Directors of Marriott

(16/03/23)  Lauren R. Hobart, President and CEO of Dick’s Sporting Goods, and Grant F. Reid, former President and CEO of Mars, have been elected as independent directors of Marriott International.

Both are expected to be included in the company’s slate of nominees for election at its upcoming 2023 annual meeting of stockholders.

“Lauren and Grant both have outstanding track records as chief executives of consumer-focused companies, a history of driving growth through technology, innovation and digital operations, and experience building strong company cultures,” said Frederick “Fritz” Henderson, Marriott International’s Independent Lead Director. “We are thrilled to have them join the board and are confident that their fresh perspectives andcontributions will help advance the company’s strategy and growth.”

Lauren R. Hobart

Lauren Hobart is the third CEO of Dick’s Sporting Goods in the company's 75-year history and the first non-family member CEO.

She joined Dick’s in February 2011 as Senior Vice President and Chief Marketing Officer. In her time as CMO, Lauren revamped the company's marketing efforts, drove significant improvement in the return on investment of the marketing spend and was instrumental in developing and launching Dick’s Calia brand.

Lauren was promoted to Executive Vice President and CMO and later to Executive Vice President, Chief Customer & Digital Officer. She became President of Dick’s in May 2017, overseeing the stores, marketing, e-commerce, technology, human resources, communications, legal and strategy & analytics organizations. Lauren became President and CEO in February 2021.

Lauren has also served on Dick’s board of directors since January 2018 and is President of The Dick’s Sporting Goods Foundation. Under her leadership, the foundation developed its signature Sports Matter initiative in 2014, which has enabled over one million children to have access to sports.

Prior to joining Dick’s, Lauren spent 14 years at PepsiCo in various leadership roles and before that she worked at Wells Fargo Bank and JP Morgan Chase.

“Lauren is a valuable addition to Marriott’s board of directors,” said David Marriott, Chairman of the Board for Marriott International. “Lauren’s significant impact on shaping a culture of inclusivity at DICK'S while enhancing the teammate and customer experience will benefit Marriott as we continue our efforts to create a positive and sustainable impact wherever we do business.”

Grant F. Reid

Grant Reid served as President and CEO of Mars, a position he held for almost nine years, and led the company during a period of significant growth and transformation. He announced his retirement in June 2022 after a 34-year career with the company.

As CEO, Mr. Reid fused performance with purpose, delivered sustainable growth, ramped up Mars’ digital capabilities, built its iconic brands and expanded into newer territories like veterinary health, pet services, and healthy snacking. As a result, under Mr. Reid’s leadership, Mars’ annual sales grew by more than 50% to nearly $45 billion, and its global associate workforce more than doubled from 60,000 to 140,000.

During his tenure as CEO, Grant championed Mars’ work on environmental issues, launching its $1 billion Sustainable in a Generation Plan in 2017 and, more recently, driving coalitions to accelerate cross-industry action, including being asked by the former Prince of Wales to serve as chair of the Sustainable Markets Initiative’s (SMI) Agribusiness Task Force.

“We are excited to welcome Grant to Marriott’s board of directors and look forward to his contributions,” said Mr. Marriott. “Grant brings with him a wealth of experience, having led a family-owned company that produces some of the world’s most beloved and iconic brands. His acumen in navigating the complexity of global supply chains and his commitment to people and our planet will help advance Marriott’s operations and core values.”

With the election of Lauren and Grant, the Marriott International board will expand to 14 directors, 11 of whom are independent. The board size is expected to be reduced to 13 at Marriott International’s annual meeting, at which one current director, having reached the age limit for directors under Marriott International’s Governance Principles, is not expected to be nominated for re-election by the board.

The current members of Marriott International’s board of directors are:

David S. Marriott, Chairman of the Board; Former President, U.S. Full Service Managed by Marriott, Marriott International, Inc.;

Anthony G. Capuano, President and Chief Executive Officer, Marriott International, Inc.;

Isabella D. Goren, Former Chief Financial Officer, American Airlines, Inc. and AMR Corporation;

Deborah Marriott Harrison, Global Cultural Ambassador Emeritus, Marriott International, Inc.;

Frederick A. Henderson, Marriott International’s Lead Director; Former Chairman and Chief Executive Officer, SunCoke Energy, Inc.;

Eric Hippeau, Managing Partner, Lerer Hippeau;

Lauren R. Hobart, President and Chief Executive Officer, Dick’S Sporting Goods;

Debra L. Lee, Former Chairman and Chief Executive Officer, BET Networks;

Aylwin B. Lewis, Former Chairman, President and Chief Executive Officer, Potbelly Corporation;

Margaret M. McCarthy, Former Executive Vice President, CVS Health Corporation;

George Muñoz, Principal, Muñoz Investment Banking Group, LLC;

Grant F. Reid, Former President and Chief Executive Officer, Mars, Incorporated;

Horacio D. Rozanski, President and Chief Executive Officer, Booz Allen Hamilton Inc.; and

Susan C. Schwab, Professor Emerita, University of Maryland and Former U.S. Trade Representative.

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