Management ChangeMay 20, 2026, 04:14 PM
Choice Hotels CEO Pacious Steps Down; Dragisich Interim CEO
AI Summary
Choice Hotels International announced a leadership transition, with Patrick S. Pacious stepping down as President and CEO, effective May 20, 2026. He will serve as an advisor through August 31, 2026. Dominic E. Dragisich, Chief Growth & Strategy Officer, has been appointed Interim CEO, effective the same date, and will receive a $500,000 cash bonus and a $500,000 restricted stock unit award. The Board has formed a search committee to find a permanent CEO. The company also reaffirmed its full-year 2026 financial guidance.
Key Highlights
- Patrick S. Pacious stepped down as President & CEO, effective May 20, 2026.
- Dominic E. Dragisich appointed Interim CEO, effective May 20, 2026.
- Dragisich will receive a $500,000 cash bonus and a $500,000 restricted stock unit award.
- Pacious will serve as an advisor to the Company through August 31, 2026.
- Pacious to receive cash severance equal to 200% of base salary and target annual bonus.
- Pacious's unvested equity awards granted after May 5, 2011, will continue vesting for two years.
- Choice Hotels reaffirmed its full-year 2026 financial guidance.
- The Board established a search committee for a permanent CEO.
Price Impact
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