BETHESDA, MD—Host Hotels & Resorts’ EVP/CFO Michael D. Bluhm will step down at the end of this year to resume his career in investment banking as managing director and global head of lodging for Morgan Stanley, based in Los Angeles. The company has initiated a comprehensive search process with the assistance of a leading executive search firm to identify Bluhm’s successor.
To ensure a smooth transition, Bluhm will serve as a senior advisor to the company through February 15, 2020. Brian G. Macnamara, Host’s SVP and corporate controller, will serve as principal financial officer, effective January 1, 2020, until such time as Host appoints a new EVP and CFO.
James F. Risoleo, president/CEO, said, “On behalf of the Board and management team, I thank Michael for his many contributions to our company. He has expanded our strategic capabilities while maintaining our disciplined approach to capital allocation and fortifying our investment-grade balance sheet. We are pleased Michael has agreed to serve as a senior advisor to Host over the coming months, and we expect to continue to benefit from his expertise as one of our external advisors.”
Risoleo continued, “We are fortunate to have a deep bench of talent, and we appreciate Brian’s willingness to serve as principal financial officer while we undertake the search process. Having spent nearly 25 years at Host, Brian is deeply familiar with our business, strategy and financial processes. We are confident this will be a seamless transition for our shareholders, partners, employees and other stakeholders.”
Bluhm said, “It has been an honor to serve as Host’s CFO and work with such an outstanding management team and group of committed employees. I’m very proud of what we have accomplished over the past couple of years and look forward to continuing to support Jim and the team as they further build on the Company’s industry-leading position and create additional value for shareholders.”