PARSIPPANY, NJ—Wyndham Hotels & Resorts revealed that David B. Wyshner has decided to step down as CFO, effective immediately, and move into a senior advisory role reporting to President/CEO Geoff Ballotti until March 1, 2020. The company also revealed the promotion of its treasurer/EVP, Michele Allen, to succeed Wyshner as CFO, effective immediately.
“As the CFO of Wyndham Worldwide and later Wyndham Hotels & Resorts, David was absolutely instrumental in the divestiture of our European Vacation Rentals Business, the acquisition of La Quinta Holdings, our spin-off from our parent company, establishing a new finance leadership team and setting us up for the future. We are sincerely grateful for all that David has done to transition our new company for success,” said Ballotti.
“I thank my colleagues at Wyndham. It has been a pleasure to work with one of the best leadership teams in the industry,” said Wyshner. “I have enjoyed our teamwork, our culture and our many successes and see this as the right time for me personally to make this transition from the job I was brought in to do back in 2017.”
Allen, who began her career at Deloitte & Touche, is a 20-year veteran of Wyndham Hotels, Wyndham Worldwide and Cendant Corporation—having been the global SVP of finance and controller for the former Wyndham Hotel Group, and SVP of finance for Wyndham Worldwide. Since the spin-off, she has played a critical role in developing the leadership talent of its finance organization, while helping to drive its first six quarters of consistent execution as a new public company.
Ballotti said, “Michele is an exceptional leader whom I’ve had the pleasure to work alongside for over a decade. Her readiness to assume this role was part of our board’s ongoing succession planning process. She personally knows our leadership teams around the world and understands this business inside-out. I am confident she will hit the ground running with the full support of our team here in New Jersey and around the world.”
In addition, Wyndham revealed Barry Goldschmidt will be promoted from deputy treasurer to treasurer.