Travel + Leisure Co. CFO Mike Hug Steps Down, Transition Plan Announced

Travel + Leisure Co. Announces CFO Transition

Travel + Leisure Co. (NYSE:TNL) has made a significant announcement regarding its Chief Financial Officer (CFO), Mike Hug. After a remarkable tenure of over 25 years with the organization, Hug is set to retire by June 1, 2025. This decision comes after his extensive contributions to the company, including his role during its transition from Wyndham Hotels & Resorts in 2018.

Preparation for Leadership Transition

The company has initiated a search for Hug's successor, focusing on potential candidates both within and outside the organization. Hug will continue to fulfill his CFO duties until the earlier of a mutually agreed upon date with his successor or June 1, 2025.

Reflections on Leadership

Michael D. Brown, President and Chief Executive Officer of Travel + Leisure Co., expressed his gratitude for Hug's leadership. He remarked, “Mike has seen our company evolve into a leading player in a vastly different industry than the one he joined over 25 years ago. His dedication to excellence has greatly benefited our customers, associates, and shareholders.”

Hug's Legacy and Contributions

During his tenure, Hug played a key role in the transformation of Wyndham Destinations into an independent company after the spin-off from Wyndham Hotels & Resorts. His financial acumen was instrumental in acquiring the iconic Travel + Leisure brand in 2021, which aligned perfectly with the company's strategy to create a dynamic and diverse multi-brand vacation ownership and membership travel entity.

Career Background

Prior to becoming CFO, Hug was Chief Financial Officer of Wyndham's timeshare division, overseeing financial services and technology operations. He joined the Wyndham family in 1999 as Vice President of Finance for the Wyndham Hospitality Services Group, bringing over a decade of public accounting experience from one of the Big Four accounting firms.

Continuing Innovations in Travel

As Travel + Leisure Co. navigates this leadership transition, the company remains focused on its mission: putting the world on vacation. With over six million vacations provided to travelers annually, the company’s diverse portfolio aims to meet the evolving needs of leisure travelers.

About Travel + Leisure Co.

Travel + Leisure Co. (NYSE: TNL) stands as the leading membership and leisure travel service provider globally. The organization boasts a vast portfolio of vacation ownership, travel club memberships, and lifestyle travel brands that cater to modern travelers, whether they are globetrotting or enjoying local getaways. The company’s dedicated team of over 19,000 associates across the globe works tirelessly to offer exceptional travel experiences while prioritizing responsible tourism.

Frequently Asked Questions

When is Mike Hug retiring from Travel + Leisure Co.?

Mike Hug is set to retire by June 1, 2025, after more than 25 years with the company.

What role did Mike Hug play in Travel + Leisure Co.?

Mike Hug has served as CFO and was instrumental in the company’s transition and growth, including the acquisition of the Travel + Leisure brand.

How is Travel + Leisure Co. preparing for the transition?

The company has commenced a search for Hug's successor, considering both internal and external candidates for the role.

What is the mission of Travel + Leisure Co.?

The company aims to put the world on vacation, as reflected in their extensive vacation offerings to travelers worldwide.

What legacy does Mike Hug leave behind?

Hug leaves behind a strong financial leadership team and a company in excellent financial condition, ensuring a smooth transition.

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