Thomas Magnuson is stepping down from the CEO role at Magnuson Hotels after 21 years. Former chief revenue officer Adnan Malik will step up to the position. Co-founder Melissa Magnuson will continue as chairman.
The company did not specify what new role, if any, Thomas Magnuson would have with the business going forward.
During Thomas Magnuson’s tenure, the company helped shift independent hotels from being perceived as less desirable in the market to becoming the most preferred category of hotels worldwide. Fair franchising became a global movement, and legislation to protect hotel owners is now underway in the United States.
"It has been an incredible journey leading Magnuson Hotels for the past 21 years,” Thomas Magnuson said in a statement. “I am immensely proud of what we've achieved together as a team. As I step down from the CEO position, I'm filled with gratitude for the experiences, challenges and growth we've embraced, and for the people I have met along this path. I am confident in the talented individuals who will continue to drive Magnuson Hotels towards even greater success."
"I am honored and excited to lead Magnuson Hotels into its next phase," Malik said. "Under Thomas's exceptional leadership, the brand has flourished, and I am committed to building upon this strong foundation by driving innovation. We will continue our commitment to deliver results for hotel owners and exceed expectations of hotel guests."
"We all take tremendous pride in what Magnuson Hotels has achieved under Thomas's CEO tenure,” Melissa Magnuson said. “With Adnan's appointment, we are confident in his ability to lead the company towards continued growth and success, maintaining our commitment to excellence."