Time New York: Sat 01 Oct 13:15 pm  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

FelCor (FCH) Brings Changes in Top Leadership Positions

Zacks

FelCor Lodging Trust Incorporated FCH, the Irving, TX-based real estate investment trust (“REIT”) has announced the retirement of the former President and Chief Executive Officer (“CEO”) Richard A. Smith. The Chief Operating Officer of the company, Troy A. Pentecost, has been assigned the additional roles of President and interim senior executive officer with immediate effect. With this change in top leadership positions, the company is likely to continue unlocking value for the shareholders. Mr. Smith has also resigned from FelCor’s board of directors. He will, however, stay in the company in a nonexecutive role till the end of this year in order to aid the smooth transition of responsibilities.

Mr. Pentecost, a hospitality industry veteran, joined FelCor as Executive Vice President and Director of Asset Management in Mar 2006. In 2010, he became the Chief Operating Officer of the company and was responsible for the operations of the asset management, design and construction groups. It is expected that Mr Pentecost, with his huge hospitality industry experience and profound knowledge of FelCor’s operations, is the perfect choice to lead the company during the interim period.

FelCor is one of the nation’s largest owners of upper-upscale, all-suite hotels. The company currently carries a Zacks Rank #5 (Strong Sell).

FELCOR LODGING Price

FELCOR LODGING Price | FELCOR LODGING Quote


Investors interested in the REIT sector can consider some better-ranked stocks like Alexandria Real Estate Equities, Inc. ARE, Arbor Realty Trust Inc. ABR and CareTrust REIT, Inc. CTRE. All these stocks hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Confidential from Zacks

Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.