by Adedamola Agboola via http://www.blackenterprise.com
Leslie Hale will join a very small club in August when she becomes the chief executive officer of RLJ Lodging Trust.
Hale has been serving as the company’s No. 2 since 2013, taking on the dual role of CFO and COO of the real estate investment firm that focuses on acquiring hospitality companies. Founded in 2001, RLJ Lodging Trust is publicly listed on the New York Stock Exchange and employs 99 persons. The company made $1.2 billion in revenues last year, putting it just beyond the benchmark of a Fortune 1000 company.
Hale will replace current CEO Ross Bierkan, when he retires and his employment agreement expires on Aug. 22, the release said. Hale will pick up where Bierkan leaves off with the integration of the company’s most recent acquisition of FelCor Lodging Trust. RLJ acquired the Texas-based REIT in September in an all-stock deal then valued at $1.02 billion.
“I am proud to have served with a team that has evolved from a start-up in the year 2000 to the third largest pure lodging REIT. We have a high-quality portfolio, a seasoned, experienced team, and the right strategic plan in place, which we have been successfully executing to unlock value. We are well on our way to achieving our key objectives this year, and with this backdrop, now is the right time for me to retire and celebrate the next generation of leadership at RLJ Lodging Trust,” said Bierkan in a statement. “The Company could not ask for a better choice than Leslie, who has …