Joyce to stay on company’s board as vice chairman
Choice Hotels Intl. Inc. has named Patrick Pacious its new president and ceo. Pacious, who now serves as the company’s president and chief operating officer, will succeed current ceo Stephen Joyce in January.
Joyce will hold that post through the end of the year, and will continue to serve on the company’s board following his exit, assuming the role of vice chairman. Pacious—who has been with the company since 2005—also plans to join the board of directors in September.
“Under Steve's tenure as ceo, Choice Hotels has grown stronger,” says Stewart Bainum Jr., chairman of Choice’s board of directors. “We are grateful for Steve's leadership, passion for talent development, and his legacy of innovation and growth over the better part of a decade. By enhancing Pat's roles over the years, Steve ensured that Pat is the clear choice to succeed him.”
Over the past several years, Joyce has worked with the company’s board to identify and prepare his successor, who was appointed chief operating officer in January 2014 and became president in May 2016. Previously, Pacious held senior management consulting positions with Amsterdam-based management/tech consulting firm BearingPoint and Chicago-based holding company Arthur Andersen, during which time he was involved with several projects for Choice. He’s also a former U.S. Navy officer.
“Pat is a natural leader, and I fully endorse the board's decision to appoint him to the helm of Choice Hotels at this time,” says Joyce. “We have worked closely together since I joined the company in 2008. I believe his strategic thinking and vision will continue to drive growth and profitability for the company.”
During his tenure, Pacious has led Choice’s strategies and growth initiatives around brand, marketing, development, franchise services, revenue management and performance analytics, including its growth in the upscale segment with Cambria Hotels and The Ascend Hotel Collection, as well as the transformation of its Comfort Inn flag.
“We have a strong performance-based culture that focuses on agility and speed, creating momentum and opportunity for the company, franchisees, associates and shareholders,” says Pacious. “I am honored by the confidence that the board and Steve have placed in me, and I look forward to strengthening Choice Hotels’ position as an industry leader.”
Bainum adds, “In essence, we have two executives at the top of their games, one who is agreeing to stay on the board as vice chairman, and another stepping in to take the reins of the company. As a result, Choice benefits from a deliberate and well-executed long-term succession planning strategy coming to fruition.”
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