Shocker at Choice Hotels

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A shocking announcement today from Choice Hotels: Joe Squeri, who recently became president and COO of the franchise giant, left the company "to pursue other professional opportunities." Why he left and what it means to the company is a mystery to me. I welcome anyone's speculation and/or knowledge of the situation.

Squeri joined the 10-brand chain in 1997 as VP, finance, and controller, and then had a steady rise through the ranks until he was elevated to his most recent position last September. The executive changes, which also included bumping former president Chuck Ledsinger to CEO and vice chairman, coincided with an organizational shift that created brand-category management teams for each of the company's segments (extended stay, mid-market, full-service, international and economy.)

I always assumed Joe was on his way to succeeding Ledsinger as the top gun at the company. I guess not.

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