Red Lion Hotel Corporation (NYSE:RLH) announced today the appointment of Gary A. Kohn as its Executive Vice President, CFO effective May 29,2020.Mr. Kohn has been serving as a consultant to Red Lion since May 18, 2020.
New CFO will be responsible for overseeing all financial aspects of the Company, including financial planning and analysis, accounting and reporting as well as managing the tax, internal audit, treasury and investor relations functions.
“We are pleased to have Gary officially join RLHC as our Chief Financial Officer. A number of our finance team professionals have had an opportunity to work with Gary prior to RLHC, which has facilitated a seamless transition. We look forward to successfully navigating RLHC’s evolution and have confidence that Gary’s perspective and financial leadership will contribute to the effort.”-said John Russell, Interim CFO of RLH.
According to a SEC filing reviewed by Idaho Reporter, Mr. Kohn will be employed by Red Lion Hotels on an at-will basis, and he is entitled to an annual base salary of $350,000. He is also eligible to participate in company’s short term and long term incentive plans in which executive vice presidents may participate, and his short term bonus target is set at 60% of base salary. Effective May 29, 2020, Mr. Kohn will receive a one-time grant of 90,000 restricted stock units (RSUs), which will vest 25% on each of the four anniversaries of issuance. Furthermore Mr. Kohn is also entitled to certain severance benefits if his employment is terminated by the Company.
Gary Kohn is excited “to officially join the RLHC team“. He also added:”In my brief time with RLHC, I have re-engaged with former colleagues and have met additional talented team members across the Company who are all passionate about their work and about moving RLHC forward. I believe we have a great opportunity, and I look forward to doing my part in helping RLHC thrive as we move ahead.”
Red Lion Hotels Corporation (NYSE: RLH) stock price lost 50% year-to-date and it is trading at around $1.79 on Monday.