Interstate Elects Chris Shackelton to Board
FEBRUARY 13, 2009 - Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation's largest independent management company, today announced that Chris Shackelton has been elected to its board of directors, bringing the total number of directors to nine.
Shackelton is a managing partner and co-founder of Coliseum Capital Management, LLC, currently Interstate's largest shareholder with 3.7 million shares held, or approximately 12 percent of the company's outstanding shares. Coliseum is a private investment partnership that makes long-term investments in both public and private companies.
Prior to Coliseum, Shackelton was an analyst at Watershed Asset Management. Previously, he worked in the investment banking division of Morgan Stanley & Co.
"Chris's impressive depth and breadth of experience encompasses a wide range of investment and financing activities, and he will be a valuable resource to our board," said Thomas Hewitt, chief executive officer. "As Coliseum is our largest shareholder, Chris already is thoroughly knowledgeable about our company and will be able to make an immediate contribution."
Shackelton currently sits on the board of directors of Rural/Metro Corp. and serves as a trustee for the Walter Johnson Foundation. He has a B.A. in economics from Yale College.
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