The company has commenced a comprehensive search for Hug’s successor, considering both internal and external candidates to ensure a seamless transition in financial leadership. Hug will remain in his current role as CFO until a mutually agreed-upon date after a successor is named, or until June 1, 2025, whichever comes first. This timeline underscores Travel + Leisure Co.’s commitment to a stable and well-managed leadership change within the travel and leisure sector.
Michael D. Brown, President and Chief Executive Officer of Travel + Leisure Co., acknowledged Hug’s significant contributions: “Mike has been instrumental in the evolution of our company, witnessing its growth into a leader within the dynamic travel + leisure co market. His 25-year career has been marked by unwavering dedication to our customers, associates, and shareholders. We are immensely thankful for his leadership and strategic guidance. Mike’s stewardship has left our company financially robust, supported by a strong financial leadership team, paving the way for a smooth transition.”
Hug’s tenure has been pivotal in shaping Travel + Leisure Co. He played a crucial role in the company’s transformation to Wyndham Destinations post the Wyndham Hotels & Resorts spin-off in June 2018. Furthermore, he was a key driver in the acquisition of the iconic Travel + Leisure brand in 2021, which led to the company rebranding as Travel + Leisure Co. This strategic move was central to creating a diverse portfolio encompassing vacation ownership and membership travel services, solidifying its position in the travel + leisure co industry.
Before his current position as CFO of Travel + Leisure Co., Hug served as Chief Financial Officer for Wyndham’s timeshare division. In this role, he spearheaded financial services, IT operations, and Wyndham Consumer Finance. His career progression within the company also includes serving as Senior Vice President and Controller. Hug initially joined the company in 1999 as Vice President of Finance for the Wyndham Hospitality Services Group, bringing with him 11 years of experience in public accounting at a Big Four firm.
As Travel + Leisure Co. navigates this leadership transition, Hug will collaborate closely with the leadership team and the Board of Directors to ensure a seamless handover. This dedication highlights the company’s focus on maintaining stability and operational excellence within the travel + leisure co landscape.
About Travel + Leisure Co.
Travel + Leisure Co. (NYSE: TNL) stands as the world’s foremost membership and leisure travel enterprise, delivering exceptional vacation experiences to over six million travelers annually. With a comprehensive portfolio of vacation ownership, travel club, and lifestyle travel brands, Travel + Leisure Co. caters to the diverse preferences of modern travelers, whether they seek global adventures or local getaways. Emphasizing hospitality and responsible tourism, the company’s global team of over 19,000 associates is dedicated to fulfilling its mission of making the world accessible for vacations. For deeper insights into Travel + Leisure Co. and its offerings in the travel + leisure co sector, please visit travelandleisureco.com.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Securities and Exchange Commission (SEC). These statements are based on current expectations and are subject to risks and uncertainties, including those related to the CFO transition and other factors detailed in Travel + Leisure Co.’s SEC filings, particularly the Form 10-K for the year ended December 31, 2023. Readers are cautioned against undue reliance on these statements, which are relevant only as of the date of this release. Travel + Leisure Co. undertakes no obligation to update these forward-looking statements.
Contacts
Investor Contact:
Travel + Leisure Investor Relations
(407) 626-4050
[email protected]
Media Contact:
Steven Goldsmith
Public Relations
(407) 626-5882
[email protected]
