Oyo News: Ritesh Agarwal welcomes Steve Albrecht as Non-Executive Director on the board

In a recent development, Oyo's Ritesh Aggarwal has said that the firm has appointed Steve Albrecht as a non-executive director on the company's BOD. He will play a supervisory role and guide the founder and management for key business decisions. Currently, he is also on the boards of many companies. These include SkyWest Airlines, Larry H Miller Group of Companies, and Deseret Mutual Benefit Association, it added.

About Steve Albrecht

Albrecht is a world-renowned expert in corporate governance. Thus, he will help the company strengthen its focus on corporate governance and process improvement at multiple levels. "His academic pursuits as a life-long learner and educator are considered a goldmine of insights on the hospitality industry," said OYO in a statement.

The newly appointed director is a former president of the American Accounting Association and the Association of Certified Fraud Examiners. He has also consulted with several organisations, including major financial institutions, the United Nations, the Federal Bureau of Investigation and others.

Commenting on his appointment in OYO's BOD, Steve said:

The travel and hospitality industry has been severely impacted worldwide. But Oyo's offerings are affordable, relevant and safe. I am excited to join in its mission of offering great quality spaces at right price points. I am also excited to join a great board of directors who together with an outstanding management team will guide the company to success.

He also said that he is excited to work with Ritesh and the entire energetic management team to "become the world's largest hospitality brand."

What did Oyo Founder Ritesh Agarwal say on the matter?

Speaking on the matter, Agarwal said:

Steve is an expert and a thought leader who will help us deliver on sustainable growth, operational and service excellence. He will also help us continue building a strong culture of corporate governance and accountability. As COVID-19 continues to impact the business and forces businesses to rethink its strategies, our board has also come together. Everyone has been constantly guiding us on business continuity and recovery measures.

He even tweeted the entire release and said:

I’m honored to announce that Dr. W Steve Albrecht will be joining OYO as a non-executive director on the company's Board of Directors. Steve is an expert & a thought-leader who will help us deliver on sustainable growth, operational & service excellence. pic.twitter.com/GCTaKBmzH5

— Ritesh Agarwal (@riteshagar) June 9, 2020

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