Concurrent with the release of its first-quarter results, Marriott International announced future leadership changes, including plans for executive and board chairman Bill Marriott to transition to chairman emeritus in 2022.

He is expected to be succeeded by his son, David Marriott, who currently serves as president of U.S. full-service properties managed by Marriott.

David Marriott will join the company’s board of directors next year and will eventually relinquish his executive role and assume the position of chairman of the board.

Bill Marriott, 88, was Marriott International’s CEO from 1972 to 2012.

Dave Grissen, Marriott’s group president for the Americas, will step down from his role at the end of this year and will retire in early 2021 after 36 years with the company. Grissen, who has helmed the Americas unit for the past 11 years, oversees more than 5,640 properties across Marriott’s largest region.

Following Grissen’s departure, Marriott will consolidate its lodging operations under two newly formed units. Marriott group president for Europe, Middle East & Africa Liam Brown will oversee all North America operations as group president for North America, while group president for Asia Pacific Craig S. Smith will be named international group president, overseeing all non-North America business.

“The changes we are making will help define a new era for our organization — one that will accelerate our global aspirations,” said Sorenson in a statement.