Gebhard Rainer, the former CFO of Hyatt Hotels and president of the Coach fashion brand, was appointed CEO of Sandals Resorts International, effective immediately.

Gebhard Rainer
Gebhard Rainer

Current CEO Adam Stewart stepped down after 12 years, and will continue in his role as Sandals' deputy chairman under his father, Butch Stewart, chairman and founder of Sandals.

"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," Adam Stewart said in a statement.

Rainer, who will report to both Stewarts, worked with Hyatt Hotels for more than 25 years. Most recently, he was president and COO of Coach.

"My son, Adam, has played a huge role as CEO of SRI, exceeding expectations over the past 12 years. 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," Butch Stewart said.

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