Marriott International Inc. said Friday it completed the spinoff of its hotel, senior living and and distribution businesses into a new company under the same name.
The remaining food-service and facilities-management business was merged with France's Sodexho Alliance SA to create Sodexho Marriott Services Inc.J.W. Marriott Jr., chairman and chief executive of the old Marriott International, and William J. Shaw, its president and chief operating officer, will hold the same positions with the new company.
Shaw was also named chairman of Sodexho Marriott. Charles D. O'Dell, previously president of Marriott Management Services, has been named president and CEO of Sodexho Marriott.
Marriott said each share of the old Marriott International Inc. was converted into one share of the new Marriott International and 0.25 shares of Sodexho Marriott Services Inc.