Choice Hotels International, Inc. (NYSE: CHH) today announced its Board of Directors has extended the employment agreement with Charles A. Ledsinger, Jr., president and chief executive officer, for four years. Under the extension, Ledsinger’s contract will run until December 2009.
“We are very pleased that Chuck Ledsinger will continue to provide his tremendous leadership for our company,” said Stewart Bainum, Jr., board chairman. “Since Chuck joined Choice in 1998, the company has enjoyed its most dynamic growth and has secured its position as a premier lodging franchisor internationally. We have seen the company’s average total annual shareholder return exceed 29% during his tenure. Today our franchise system includes more than 5,000 hotels in more than 40 countries, and Chuck’s strategic vision has played an integral role in that success.”
“I deeply appreciate the Board’s confidence in my leadership, in our strategy and in the exceptional management team we now have in place to guide the company,” said Ledsinger. “Today Choice is extremely well-positioned to grow its brands and to provide our franchisees with greater opportunities to maximize their investment. I look forward to the next four years as we strive to take the company’s performance to even higher levels.”
About Choice Hotels International
Choice Hotels International is one of the world's largest lodging franchisors, marketing more than 5,000 hotels open or under development in more than 40 countries under the Cambria Suites, Clarion, Quality, Comfort Suites, Comfort Inn, Sleep Inn, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brand names. For more information on Choice, visit the company's web site at www.choicehotels.com