Four Seasons Hotels founder and CEO Isadore Sharp on Friday
announced that he is stepping down as the luxury hotel chain's chief executive,
and company president Kathleen Taylor will assume the role on Aug. 1.
Sharp, who
spoke with BTN last year, started Four Seasons
with a Toronto motor inn in 1961 and led its development into its current
portfolio of 82 luxury hotels and resorts around the world. He will continue in
the role of the company's chairman, overseeing the design and direction of Four
Seasons' future development, according to the company.
"The long-term success of Four Seasons has always been
my top priority, and I have long been committed to identifying and developing
the next generation of leadership for Four Seasons," Sharp said in a
statement. "Over a decade ago, I recognized that Katie had the potential
to become Four Seasons' next CEO. Since then, we have worked closely together
on many strategic, operational and challenging situations, and she has repeatedly
proven herself the right choice to lead the company forward."
Taylor started at Four Seasons in 1989 as the company's
corporate counsel and assumed the role of president and COO in 2007. Other
roles within the company she has held include executive vice president of
corporate planning and development and president of worldwide business
operations.
"Four Seasons is well positioned to take advantage of
the recovery in luxury travel, and we are energized by all the positive
developments at the company," Taylor said in a statement. "These
include our significant expansion plans for China, which we view as a key
strategic market, and a robust pipeline of more than 50 projects in development
globally."