DiamondRock Hospitality Company (NYSE: DRH) today announced that it has named Jay Johnson as its new Executive Vice President and Chief Financial Officer.
"Jay is a rare talent and brings an excellent background as a former banker and public company executive with experience in managing complex balance sheets, interfacing with external stakeholders, and appreciating capital allocation decisions that drive shareholder value. He will be a great addition to our team," stated Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality Company.
Prior to joining DiamondRock, Mr. Johnson served as Senior Vice President and Treasurer of Host Hotels & Resorts (NYSE: HST), a lodging real estate investment trust. In this role, he was responsible for the company's financing activities globally, including all capital raising, liability management, corporate liquidity, enterprise risk management and acquisition financing. While at Host, he completed over $14 billion in debt and equity capital transactions in 12 countries and managed a balance sheet that encompassed over $5 billion of available debt capital. Mr. Johnson served as a member of the senior management team and managed the company's relationships with financial institutions, fixed income investors and ratings agencies. He currently serves on the Real Estate Capital Policy Advisory Committee of The Real Estate Roundtable. In 2016, he was named to the Washington Business Journal's list of top 40 under 40 business executives.
Prior to Host, Mr. Johnson served in a variety of banking roles at KeyBank Real Estate Capital and Bank of America. Prior to those banking roles, he was in the management consulting practice of Deloitte & Touche LLP, the investment banking group at Prudential Securities and the industrial markets trading division of Enron Corporation.
Mr. Johnson received an MBA from Harvard Business School and a BA in economics from Morehouse College.
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