Four Seasons Hotels and Resorts announced that its president and CEO, J. Allen Smith, will be leaving his position at the end of 2018 upon the completion of his five-year contract with the company.
Smith, who was appointed president and CEO in 2013, will continue to lead Four Seasons until the company's board of directors completes its search for a successor.
"Through his five years of leadership, Allen has built an outstanding senior management team and successfully pursued strategic initiatives so the company is well positioned for the next chapter of its evolution and leadership," Isadore Sharp, founder and chairman of Four Seasons, said on behalf of the company's board of directors. "The board and Allen are committed to a successful CEO transition and meeting their responsibility to maintain and enhance Four Seasons brand, people and service culture, and management capabilities. Four Seasons has never been stronger."
"It is a profound honor and privilege for me to lead Four Seasons and I am deeply grateful to my colleagues whose passion for being the best is evident every day in all that they do," Smith said in a statement. "I have been fortunate to enjoy the tremendous support of our Board of Directors and hotel owners, who share a deep sense of commitment to our long term success."
Founded in 1960, Four Seasons Hotels and Resorts currently operates 109 hotels and resorts along with 38 residential properties in major city centers and resort destinations in 46 countries, with more than 50 projects under planning or development.