Bethesda, Md.-based Host Hotels & Resorts (NYSE:HST) has a new CFO.
On Monday, Host announced that Larry K. Harvey, its chief financial officer of the past six years, is stepping down from the CFO's post immediately and plans to retire from the company entirely sometime in Q3. Taking his place will be Gregory J. Larson, currently executive vice president for corporate strategy.
Larson is already in charge of investor relations at Host and has in the past been responsible for management of both the company's treasury and for corporate finance. Giving him the CFO's job, Host says, "will consolidate all of the company's financial activities under his leadership," and will help to also "streamline [Host's] organizational structure."
Additionally, Host noted that it will be adding property "disposition" to the list of responsibilities of company Chief Investment Officer Struan Robertson.
Host shares declined 1.2% in Monday trading to close at $18.54.