DIAMONDROCK HOSPITALITY ANNOUNCES RETIREMENT OF CHAIRMAN WILLIAM W. MCCARTEN

Rhea-AI Summary

DiamondRock Hospitality (Nasdaq: DRH) announced that Chairman William W. McCarten will retire at the adjournment of the 2026 Annual Meeting on April 29, 2026, concluding a 47‑year hospitality career and 22 years as chairman. Bruce D. Wardinski will become non‑executive chairman and the Board will reduce from nine to eight directors.

The company said the change preserves leadership continuity, with Wardinski having served on the Board since 2013 and having prior chair experience at three public hotel companies.

Positive

• Planned succession with effective date of April 29, 2026
• Experienced new chairman—Bruce Wardinski served on the Board since 2013
• Continuity as retiring chairman remains through the 2026 Annual Meeting

Negative

• Loss of founder and long‑time chairman William W. McCarten
• Board size reduced from nine directors to eight

News Market Reaction – DRH

+0.30%

3 alerts

+0.30% News Effect

+3.6% Peak Tracked

+$6M Valuation Impact

$2.10B Market Cap

0.1x Rel. Volume

On the day this news was published, DRH gained 0.30%, reflecting a mild positive market reaction. Argus tracked a peak move of +3.6% during that session. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $6M to the company's valuation, bringing the market cap to $2.10B at that time.

Data tracked by StockTitan Argus on the day of publication.

Retirement Culminates a Distinguished 47 Year Career in Hospitality

BETHESDA, Md., Feb. 25, 2026 /PRNewswire/ -- DiamondRock Hospitality Company (Nasdaq: DRH, the "Company") announced that Chairman William W. McCarten will retire from the Company's Board of Directors (the "Board") at the end of his current term, effective at the adjournment of the 2026 Annual Meeting of Shareholders on April 29, 2026. At that time, Bruce D. Wardinski will become non-executive Chairman of the Board, and the size of the Board will be reduced from nine directors to eight.

"For more than two decades, Bill has been the cornerstone of DiamondRock—as its founder, inaugural Chief Executive Officer, and Chairman. His leadership was instrumental in guiding the Company through a dynamic and evolving operating environment, shaping DiamondRock into the organization it is today. Bill's insight, mentorship, principled leadership, and enduring passion for hospitality will be profoundly missed," said Jeffrey J. Donnelly, Chief Executive Officer.

"It has been a great honor to serve as Chairman of DiamondRock for the past twenty‑two years. I have had the privilege of working alongside an exceptional Board of Directors and management team, and I am deeply proud of the successful business that we have created together," said Mr. McCarten.

"Bruce is uniquely qualified to serve in the role of Chairman, having served previously as Chairman of three publicly traded hotel companies, in addition to serving on DiamondRock's Board since 2013. I look forward to continuing to work with Bruce as we pursue our shared goal of creating long‑term value for our shareholders," said Mr. Donnelly.

About the Company

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that owns a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 35 premium quality hotels and resorts with approximately 9,600 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com.

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SOURCE DiamondRock Hospitality Company

FAQ

When will William W. McCarten officially retire from DiamondRock (DRH)?

He will retire at the adjournment of the 2026 Annual Meeting on April 29, 2026. According to the company, his retirement concludes his current Board term and follows 22 years as chairman.

Who will become chairman of DiamondRock (DRH) after McCarten retires?

Bruce D. Wardinski will become non‑executive chairman effective at the 2026 Annual Meeting. According to the company, Wardinski has served on the Board since 2013 and chaired three public hotel companies.

How will DiamondRock's Board composition change after the April 29, 2026 meeting for DRH?

The Board will be reduced from nine directors to eight following McCarten's retirement. According to the company, this change accompanies the appointment of Bruce Wardinski as non‑executive chairman.

What experience does Bruce Wardinski bring as incoming chairman of DiamondRock (DRH)?

He has prior chair experience at three publicly traded hotel companies and Board service at DiamondRock since 2013. According to the company, that background supports leadership continuity.

Will William McCarten remain involved with DiamondRock (DRH) after April 29, 2026?

No; his retirement is effective at adjournment of the 2026 Annual Meeting on April 29, 2026. According to the company, he will step down from the Board at that time.

Why did DiamondRock (DRH) reduce its Board size with McCarten's retirement?

The company will reduce the Board from nine to eight directors concurrent with the leadership change. According to the company, the reduction aligns with the transition to a non‑executive chairman structure.