ORLANDO, Fla.--(BUSINESS WIRE)--May 1, 2025--
Travel + Leisure Co. (NYSE:TNL), a leading leisure travel company, today announced the appointment of Erik Hoag to Chief Financial Officer (CFO). Mr. Hoag joins the company’s Executive Committee at a pivotal time of strategic growth and multi-brand expansion, replacing outgoing CFO Mike Hug, who is retiring after 26 years.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250501469511/en/
As the new CFO, Hoag will be responsible for leading the company’s global finance organization including accounting and controls, financial planning and analysis, treasury, tax, investor relations, consumer finance, and all operational finance activities. With more than 25 years of financial leadership expertise, Hoag has an exceptional record of scaling businesses and building long-term value creation through strategic financial planning, capital allocation, and mergers and acquisitions.
"Erik brings a unique blend of financial acumen, operational discipline, and strategic insight that will be instrumental as we continue to expand our portfolio and enter new markets," said Michael D. Brown, president and CEO of Travel + Leisure Co. "We are thrilled to welcome him to our leadership team during this exciting period of growth."
Prior to joining Travel + Leisure Co., Hoag served as Chief Financial Officer and Chief Integration Officer of FIS, a leading global provider of technology solutions for banks, corporates and capital market firms. During his nearly two-decade tenure, he played a pivotal role in several significant milestones, including dozens of acquisitions, the sale of the merchant acquiring business of FIS to private equity firm GTCR in 2023, and most recently, a $12 billion business acquisition from Global Payments. Hoag was also member of the Board of Directors of private equity-owned Capco until their sale to Wipro in 2021. He has also held leadership positions in finance at Bank of America, Truist, and HSBC.
"I’m excited to join Travel + Leisure Co. at such a dynamic moment in its evolution,” said Hoag. “The company’s vision, momentum, and expanding brand portfolio present an incredible opportunity, and I look forward to partnering with the team to drive continued success.”
Since the acquisition of the Travel + Leisure brand in 2021, Travel + Leisure Co. has continued to execute its vision to expand its brand portfolio across the vacation ownership industry and into the broader travel landscape. In addition to operating its existing Club Wyndham, WorldMark by Wyndham, and Margaritaville Vacation Club brands, the company acquired notable brands including Accor Vacation Club (2024) and Sports Illustrated Resorts (2023). The company’s multi-brand strategy positions it for continued market leadership and innovation.
About Travel + Leisure Co.
Travel + Leisure Co. (NYSE:TNL) is a leading leisure travel company, providing more than six million vacations to travelers around the world every year. The company operates a portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they’re traversing the globe or staying a little closer to home. With hospitality and responsible tourism at its heart, the company’s nearly 19,000 dedicated associates around the globe help the company achieve its mission to put the world on vacation. Learn more at travelandleisureco.com.
Travel + Leisure Co., a leading leisure travel company, today announced the appointment of Erik Hoag to Chief Financial Officer (CFO).
Federal Reserve Chair Jerome Powellsaid Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations.
The move represents an unprecedented escalation in President Donald Trump’s battle with the Fed, an independent agency he's repeatedly attacked for not cutting its key interest rate as sharply as he prefers. The renewed fight will likely rattle financial markets Monday and could over time escalate borrowing costs for mortgages and other loans.
The subpoenas relate to Powell’s testimony before the Senate Banking Committee in June, the Fed chair said, regarding the Fed’s $2.5 billion renovation of two office buildings, a project Trump has criticized as excessive.
Here's the latest:
Stocks are falling on Wall Street after Federal Reserve Chair Jerome Powell said the Department of Justice had served the central bank with subpoenas and threatened it with a criminal indictment over his testimony about the Fed’s building renovations.
The S&P 500 fell 0.3% in early trading Monday. The Dow Jones Industrial Average lost 384 points, or 0.8%, and the Nasdaq composite fell 0.2%.
Powell characterized the threat of criminal charges as pretexts to undermine the Fed’s independence in setting interest rates, its main tool for fighting inflation. The threat is the latest escalation in President Trump’s feud with the Fed.
▶ Read more about the financial markets
She says she had “a very good conversation” with Trump on Monday morning about topics including “security with respect to our sovereignties.”
Last week, Sheinbaum had said she was seeking a conversation with Trump or U.S. Secretary of State Marco Rubio after the U.S. president made comments in an interview that he was ready to confront drug cartels on the ground and repeated the accusation that cartels were running Mexico.
Trump’s offers of using U.S. forces against Mexican cartels took on a new weight after the Trump administration deposed Venezuelan President Nicolás Maduro. Sheinbaum was expected to share more about their conversation later Monday.
A leader of the Canadian government is visiting China this week for the first time in nearly a decade, a bid to rebuild his country’s fractured relations with the world’s second-largest economy — and reduce Canada’s dependence on the United States, its neighbor and until recently one of its most supportive and unswerving allies.
The push by Prime Minster Mark Carney, who arrives Wednesday, is part of a major rethink as ties sour with the United States — the world’s No. 1 economy and long the largest trading partner for Canada by far.
Carney aims to double Canada’s non-U.S. exports in the next decade in the face of President Trump’s tariffs and the American leader’s musing that Canada could become “the 51st state.”
▶ Read more about relations between Canada and China
The comment by a Chinese Foreign Ministry spokesperson came in response to a question at a regular daily briefing. President Trump has said he would like to make a deal to acquire Greenland, a semiautonomous region of NATO ally Denmark, to prevent Russia or China from taking it over.
Tensions have grown between Washington, Denmark and Greenland this month as Trump and his administration push the issue and the White House considers a range of options, including military force, to acquire the vast Arctic island.
Danish Prime Minister Mette Frederiksen has warned that an American takeover of Greenland would mark the end of NATO.
▶ Read more about the U.S. and Greenland
Trump said Sunday that he is “inclined” to keep ExxonMobil out of Venezuela after its top executive was skeptical about oil investment efforts in the country after the toppling of former President Nicolás Maduro.
“I didn’t like Exxon’s response,” Trump said to reporters on Air Force One as he departed West Palm Beach, Florida. “They’re playing too cute.”
During a meeting Friday with oil executives, Trump tried to assuage the concerns of the companies and said they would be dealing directly with the U.S., rather than the Venezuelan government.
Some, however, weren’t convinced.
“If we look at the commercial constructs and frameworks in place today in Venezuela, today it’s uninvestable,” said Darren Woods, CEO of ExxonMobil, the largest U.S. oil company.
An ExxonMobil spokesperson did not immediately respond Sunday to a request for comment.
▶ Read more about Trump’s comments on ExxonMobil
Trump’s motorcade took a different route than usual to the airport as he was departing Florida on Sunday due to a “suspicious object,” according to the White House.
The object, which the White House did not describe, was discovered during security sweeps in advance of Trump’s arrival at Palm Beach International Airport.
“A further investigation was warranted and the presidential motorcade route was adjusted accordingly,” White House press secretary Karoline Leavitt said in a statement Sunday.
The president, when asked about the package by reporters, said, “I know nothing about it.”
Anthony Guglielmi, the spokesman for U.S. Secret Service, said the secondary route was taken just as a precaution and that “that is standard protocol.”
▶ Read more about the “suspicious object”
Trump said Iran wants to negotiate with Washington after his threat to strike the Islamic Republic over its bloody crackdown on protesters, a move coming as activists said Monday the death toll in the nationwide demonstrations rose to at least 544.
Iran had no direct reaction to Trump’s comments, which came after the foreign minister of Oman — long an interlocutor between Washington and Tehran — traveled to Iran this weekend. It also remains unclear just what Iran could promise, particularly as Trump has set strict demands over its nuclear program and its ballistic missile arsenal, which Tehran insists is crucial for its national defense.
Iranian Foreign Minister Abbas Araghchi, speaking to foreign diplomats in Tehran, insisted “the situation has come under total control” in fiery remarks that blamed Israel and the U.S. for the violence, without offering evidence.
▶ Read more about the possible negotiations and follow live updates
Fed Chair Powell said Sunday the DOJ has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations.
The move represents an unprecedented escalation in Trump’s battle with the Fed, an independent agency he has repeatedly attacked for not cutting its key interest rate as sharply as he prefers. The renewed fight will likely rattle financial markets Monday and could over time escalate borrowing costs for mortgages and other loans.
The subpoenas relate to Powell’s testimony before the Senate Banking Committee in June, the Fed chair said, regarding the Fed’s $2.5 billion renovation of two office buildings, a project that Trump has criticized as excessive.
Powell on Sunday cast off what has up to this point been a restrained approach to Trump’s criticisms and personal insults, which he has mostly ignored. Instead, Powell issued a video statement in which he bluntly characterized the threat of criminal charges as simple “pretexts” to undermine the Fed’s independence when it comes to setting interest rates.
▶ Read more about the subpoenas
President Donald Trump speaks to reporters while in flight on Air Force One to Joint Base Andrews, Md., Sunday, Jan. 11, 2026. (AP Photo/Julia Demaree Nikhinson)
President Donald Trump waves after arriving on Air Force One from Florida, Sunday, Jan. 11, 2026, at Joint Base Andrews, Md. (AP Photo/Julia Demaree Nikhinson)
