Hilton Names Hart CEO

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Hilton Hotels Corp. said Thursday afternoon that Matthew Hart will be the company’s new chief executive effective Jan. 1, 2008.


Hart, 54, was will replace retiring CEO Stephen Bollenbach, who will continue as co-chairman of the board and will also serve as an employee consultant. Bollenbach was also named chairman of Los Angeles-based KB Home’s board earlier this year.


Hart becomes the fourth chief executive of the 60-year old company, following Conrad Hilton, Barron Hilton and Bollenbach.


Hart joined Hilton in 1996 and is credited with completing several strategic acquisitions, such as Bally’s Entertainment, Promus Hotel Co. and Hilton International, the Beverly Hills-based company said in a statement.


Prior to joining Hilton, Hart was senior vice president and treasurer for the Walt Disney Co. as well as chief financial officer for Host Marriott Corp.


Shares in Hilton closed down 2.4 percent, or 84 cents, to $33.54 in trading Thursday on the New York stock Exchange.

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