Hilton President Hart To Become CEO At Year-End

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Hilton President Hart To Become CEO At Year-End

MAY 24, 2007 -- Hilton Hotels Corp. president and COO Matthew Hart will succeed Stephen Bollenbach as the company's CEO at the beginning of next year, the company announced today.

Hart, who has been with Hilton since he joined as executive vice president and chief financial officer in 1996, had been the presumptive choice for the position since Bollenbach in January announced his retirement plans. Following his Dec. 31 retirement date, Bollenbach will continue to co-chair Hilton's board of directors and will serve as a consultant to the company.

Hart has played a key role in several of Hilton's recent acquisitions, including the integration of Hilton and its international arm (BTN, May 15, 2006). He also played a part in the acquisition of Bally's Entertainment, Promus Hotel Co. and numerous other properties, as well as in the launch of the Waldorf-Astoria Collection brand, according to Hilton.

"With his nearly 30 years of experience in the lodging industry and the breadth of his responsibilities here at Hilton since 1996, including driving our financial and operational activities, Matt is uniquely suited to lead our company into the future and strengthen our position as the premiere global hotel company," Bollenbach said in a statement.

Hart is Hilton's fourth CEO in the company's nearly 90-year history, according to Hilton. In addition to Bollenbach, only Conrad Hilton and Barron Hilton have served in the position.

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