Aimbridge seeks new CEO as both Deitemeyer and CFO depart

Aimbridge Hospitality has commenced the search for a new CEO as current chief Michael Deitemeyer is set to step down at the end of the year following CFO Thomas Song’s departure at November-end.

Deitemeyer commenced the role of president & CEO of Aimbridge Hospitality in January 2021 after serving as global president following the company's merger with Interstate in October 2019. He was president and CEO of Interstate Hotels & Resorts from 2017 until the 2019 merger.

The hospitality management company and third-party hotel operator has now begun its search for a replacement, with an executive committee led by chair Glenn Murphy formed for this purpose.

The search comes as chief financial officer Thomas Song prepares to leave the company on November 30, having also joined the company in January 2021.

Separately, Aimbridge has hired Stephen Joyce and Bernardo Hees to its board of managers.

Joyce has more than four decades of multi-brand and franchisee experience, including nearly a decade serving as president & CEO of Choice Hotels International and 25 years at Marriott during which he rose to the role of executive vice president, Global Development.

Hees recently served as executive chair of Avis Budget Group and has been CEO at Burger King Worldwide Holdings, The Kraft Heinz Company, and America Latina Logistica.

Joyce and Hees will join Murphy and Advent International managing director Jeff Case on the executive committee formed to find Deitemeyer’s replacement and work closely with Aimbridge's senior leadership team to drive performance.

Why it matters

The loss of two members of its top team in a short space of time is no doubt, a significant development for Aimbridge and it remains to be seen what effect this will have on the company’s growth strategy and trajectory moving forward.

What they said

Glenn Murphy, chairman of the board said: “We want to thank Mike for his contributions to building the Aimbridge legacy. Under his leadership, the company ramped up its commitment to appointing and developing top talent, led several strategic acquisitions that allowed the company to gain a foothold in new markets, and strengthened our relationship with world's top brands. Mike's contributions further reinforced Aimbridge's reputation as a dominant force in the industry and positioned the company for its next phase of growth.

The addition of Steve Joyce and Bernardo Hees to the Aimbridge Board of Managers brings unparalleled hospitality experience and corporate transformation know-how to our team. Both have proven experience in driving outsized results for companies and owners, as well as building high-performance cultures.”