Morgans Hotel Extends CEO Tenure

Morgans Hotel Group Co. is extending the period of service of its chief executive officer (CEO) Fred Kleisner by 3 months. Kleisner was supposed to resign upon the completion of his tenure on December 31.
The New York-based company began the hunt for its new CEO in late summer or early fall. The company also appointed the executive search firm Spencer Stuart to speed up the pursuit. Although Morgans Hotel has not yet been able to find an appropriate candidate, management expects to find the replacement by March 2011.
We believe it will be quite challenging for the company to find a suitable replacement for Fred Kleisner, as he boasts four decades of experience in the hotel industry. Moreover, his dedicated service has helped the company scale new heights.

Read More: