Hilton Grand Vacations Fires CFO for Behavior Against ‘Policies’
(Bloomberg) -- Hilton Grand Vacations Inc., the timeshare company spun off from Hilton Worldwide Holdings Inc., fired Chief Financial Officer James E. Mikolaichik, saying he exhibited behavior violating company rules.
Mikolaichik was terminated effective Friday “for conduct and behavior not consistent with the company’s policies,” the company said in a statement. The firing “was not related to any issues involving the company’s business, strategy, operations, performance, financial reporting or internal controls.” The company said it’s started a nationwide search for a new CFO.
Erin Pagan, a representative for Hilton Grand Vacations, didn’t immediately respond to a request for comment on the specific reason for the firing. Mikolaichik, 47, didn’t respond to a message sent on LinkedIn.
The company in its statement didn’t specify the reason for Mikolaichik’s firing. Executives in corporate America are facing increased scrutiny for workplace behavior. The #MeToo movement against sexual harassment and abuse has led to the downfall of corporate leaders from Hollywood and Silicon Valley to Wall Street. Last month, the chairman of Papa John’s International Inc. resigned amid media reports he used a racist slur on a conference call.
“I’m confident in the quality and depth of talent in our finance and accounting teams and our experienced Chief Accounting Officer Allen Klingsick,” Hilton Grand Vacations Chief Executive Officer Mark Wang said in the statement, issued after the close of trading. “They will ensure operational and financial reporting continuity until a new CFO is named.”
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