Hart Selected to Lead Hilton

Current Hilton Hotels Corp. COO Matthew Hart will replace outgoing CEO Stephen Bollenbach when he leaves his post at the beginning of 2008, the hotel operator announced on Thursday. Bollenbach announced his retirement last January, but will stay on as co-chairman and consultant to the hotelier. Hart joined Hilton back in 1996 as its CFO, and has been Bollenbach's longtime right-hand man, shepherding the company through such deals as its February 2006 acquisition of Hilton International. Hilton has continued to divest much of its owned real estate, while the reattachment of its international arm will allow the company to grow its select service brands overseas.