Diamond Resorts International Announces Board Change
July 29 2015 - 5:45PM
Business Wire
Diamond Resorts International, Inc. (NYSE: DRII) announced today
that B. Scott Minerd, Chairman of Investments and Global Chief
Investment Officer at Guggenheim, has stepped down from the Board
of Directors, effective July 28, 2015. Mr. Minerd had served on the
Board of the Company and its predecessor since 2010. Stephen J.
Cloobeck, Chairman of Diamond Resorts International said, “On
behalf of the Company’s management and the entire Board, I would
like to thank Scott for his dedication and significant
contributions to the Company.”
In August 2014, the Company lost its status as a “controlled
company” under the rules of the New York Stock Exchange (“NYSE”),
and the Company had a one-year grace period in which to comply with
the NYSE requirement of having a majority independent board. With
Mr. Minerd’s departure, the majority of Diamond’s Board of
Directors will now be comprised of independent directors in
compliance with the rules of the NYSE. The Company was already in
compliance with all of the other corporate governance requirements
applicable under NYSE rules to companies that do not qualify as
“controlled companies.”
Guggenheim will continue to have a presence on Diamond’s Board
of Directors through Zachary D. Warren who has served on the Board
of the Company and is predecessor since 2010.
About Diamond Resorts International®
Diamond Resorts International® (NYSE: DRII), with its network of
more than 330 vacation destinations located in 34 countries
throughout the continental United States, Hawaii, Canada, Mexico,
the Caribbean, South America, Central America, Europe, Asia,
Australasia and Africa, provides guests with choice and flexibility
to let them create their dream vacation, whether they are traveling
an hour away or around the world. Our relaxing vacations have the
power to give guests an increased sense of happiness and
satisfaction in their lives, while feeling healthier and more
fulfilled in their relationships, by enjoying memorable and
meaningful experiences that let them Stay Vacationed.™
Diamond Resorts International® manages vacation ownership
resorts and sells vacation ownership points that provide members
and owners with Vacations for Life® at over 330 managed and
affiliated properties and cruise itineraries.
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version on businesswire.com: http://www.businesswire.com/news/home/20150729006826/en/
Media:Diamond Resorts InternationalStevi Wara,
1-702-823-7069Fax:
1-702-684-8705media@diamondresorts.comorInvestors:Sloane &
CompanyJosh Hochberg, 1-212-446-1892jhochberg@sloanepr.comorErica
Bartsch, 1-212-446-1875ebartsch@sloanepr.com
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