Wyndham CFO steps down; treasurer promoted to replace him

Wyndham Hotels & Resorts, the Parsippany-based hospitality company, has changed chief financial officers, it announced Tuesday.

David B. Wyshner has stepped down from the CFO post, effective immediately, and moved into a senior advisory role. Michele Allen, the company’s executive vice president and treasurer, has been named CFO.

Wyshner will report to CEO and President Geoff Ballotti until March 1, when he will leave the company.

“As the CFO of Wyndham Worldwide and later Wyndham Hotels & Resorts, David was absolutely instrumental in the divestiture of our European Vacation Rentals Business, the acquisition of La Quinta Holdings, our spinoff from our parent company, establishing a new finance leadership team and setting us up for the future,” Ballotti said in a prepared statement. “We are sincerely grateful for all that David has done to transition our new company for success.”

Allen, a 20-year veteran of Wyndham and affiliated companies, has served in leadership roles for Wyndham Hotel Group, Wyndham Worldwide and other organizations.

“Michele is an exceptional leader whom I’ve had the pleasure to work alongside for over a decade,” Ballotti said. “Her readiness to assume this role was part of our board’s ongoing succession planning process. She personally knows our leadership teams around the world and understands this business inside-out. I am confident she will hit the ground running with the full support of our team here in New Jersey and around the world.”

Wyndham also promoted its deputy treasurer, Barry Goldschmidt, to treasurer to replace Allen, it said.