After 12 years as the CEO of Sandals Resorts International (SRI), Adam Stewart is stepping down.
He will be replaced by industry veteran Gebhard F. Rainer as the new CEO of the company, effective immediately, according to an official Sandals statement.
Adam Stewart, the son of Gordon “Butch” Stewart, chairman and founder of the company, was previously the CEO and deputy chairman of the company.
According to the Sandals statement, the addition of Rainer to the executive team consolidates Adam Stewart’s role as deputy chairman, “allowing him to dedicate more time to forward initiatives as the company prepares for a bold strategy forward.”
“To be the best, you must have a team that is the best and for more than 30 years we have cultivated a staff across the Caribbean - from gardeners and housekeepers to chefs and managers - who are the finest in the industry,” said Butch Stewart. “My son Adam has played a huge role as CEO of SRI, exceeding expectations over the past 12 years.”
Reporting directly to the chairman and deputy chairman, Rainer is an experienced hospitality executive with global operations and international finance experience, most notably with Hyatt Hotels Corporation, where he served as executive vice president and CFO.
In addition to his expanded role with SRI, Adam Stewart continues his leadership role in the family’s extensive hospitality, media, automotive and appliance business holdings, including his position as deputy chairman and CEO of The ATL Group, comprising the Jamaica Observer, one of the country’s leading newspapers, and ATL Appliance Traders, a chain of domestic and commercial appliance outlets throughout Jamaica.
“Rainer’s experience complements our strengths, affording me the time to expand my role alongside the chairman as the Sandals brand moves to fast-track our development plans,” said Adam Stewart. “These are exciting times and we look forward to an even brighter future.”