William “Trey” Conkling, executive vice president and chief financial officer of Summit Hotel Properties, is set to step down from the real estate investment trust effective June 15 for what the company says are “personal reasons.” The company noted that the departure is not the result of any disagreement with the company or any matter related to the company's operations, policies or practices, including its accounting principles, financial statements or financial disclosures.
"Trey has been a valued member of our executive leadership team over the past five years, and we appreciate his many contributions to Summit during his tenure," President and Chief Executive Officer Jonathan Stanner said in a statement. "On behalf of the Board of Directors and the entire Summit team, I thank Trey for his dedicated service and wish him the very best in his future endeavors.”
"It has been a pleasure to work at Summit for the past five years and I am proud of all that we have accomplished together. I am grateful for the opportunity to have worked with such a dedicated team and remain committed to supporting an orderly transition. I wish Summit and my colleagues all the best in the future and am confident that the Company is in good hands," Conkling said.
Before joining Summit, Conkling was a managing director in the Real Estate, Gaming & Lodging Investment Banking group for Bank of America Merrill Lynch. Before that, he was with the investment banking unit of Bear, Stearns & Co. and previously worked in asset management for Host Hotels & Resorts.
Conkling earned a Bachelor of Science in Hotel and Restaurant Administration from Cornell University, School of Hotel Administration and a Masters of Business Administration from Cornell University, Johnson Graduate School of Management.
To support the transition, Conkling will remain available to the company in an advisory capacity through Sept. 30. The company has engaged a nationally recognized search firm to identify Conkling's successor. In the interim, Stanner will assume the role of principal financial officer of the company, in addition to continuing in his current roles.