| |
Our business is built on relationships—with our
investors, with the management companies who manage our
hotels, with the brands we utilize for our hotels and with
our associates. We are committed to keeping our
relationships strong by communicating openly about our
business practices, being transparent about our
performance, and remaining accountable for our conduct. We
take our commitments very seriously.
At the core of this commitment, of course, is the role of
the board of directors in overseeing how management serves
the long-term interests of shareowners and other
stakeholders. An active, informed, independent and
involved board is essential for ensuring our integrity,
transparency and long-term strength. As reflected in our
statement of governance principles, the board has
the following responsibilities:
- To select, evaluate and compensate the CEO;
- To provide counsel and oversight on the selection,
evaluation and compensation of senior management;
- To review, approve and monitor fundamental financial
and business strategies and major corporate actions;
- To understand the major risks facing the company and
approve steps to mitigate those risks; and
- To ensure structures and processes are in place to
protect and advance the company's integrity and
reputation including, the accuracy and completeness of its
financial statements, its compliance with legal and
ethical requirements, the quality of its relationships
with employees, hotel managers and its other
stakeholders.
In addition, we have established strong corporate governance by taking the
following steps:
- A majority of our Board members are independent of
the Company and its management;
- All members of the Board committees (Audit,
Compensation, and Nominating and Corporate Governance)
are independent of the Company and its management;
- The independent members of the Board meet regularly
without the presence of management;
- The charters of our Board committees clearly
establish their respective roles and responsibilities;
We invite all interested stakeholders to review our
Formation Documents, our
Governance Guidelines,
Code of
Business Ethics and the Charters of the
Committees. |
Charters
