CFO Fired by Hilton Vacations for 'Behavior' Is Hired by Apollo Company

(Bloomberg) -- Diamond Resorts, a timeshare company owned by Apollo Global Management LLC, has hired a new chief financial officer who was fired by his last employer for violating company rules.

Diamond, which Apollo took private in 2016 for $2.2 billion, has hired Jim Mikolaichik, the company said in a statement today. Earlier this year, Apollo confidentially filed to take Diamond public again, according to a person familiar with the plans, who asked not to be named because the plans are private.

Mikolaichik was fired last month by Hilton Grand Vacations Inc. “for conduct and behavior not consistent with the company’s policies,” the company said at the time. The firing “was not related to any issues involving the company’s business, strategy, operations, performance, financial reporting or internal controls,” according to an August statement.

“Diamond Resorts conducts extensive professional due diligence before extending any job offer, in which a candidate’s in-depth work experience is evaluated alongside their personal qualities and character,” a representative of Diamond said in an email. “Given his long track record as a successful leader and finance professional and the due diligence we undertook, we feel very confident Jim is well-qualified to help lead our company’s finance department.”

An Apollo representative had no immediate comment.

Mikolaichik is replacing outgoing CFO Peter Crage, who is retiring, the statement from Diamond said.

To contact the reporters on this story: Patrick Clark in New York at pclark55@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.net

To contact the editors responsible for this story: Debarati Roy at droy5@bloomberg.net, Peter Jeffrey

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