Hilton Vacations axes CFO, citing behavior “not consistent” with the company

James Mikolaichik was named CFO in August 2016

TRD MIAMI /
Aug.August 10, 2018 06:31 PM

James E. Mikolaichik

UPDATED, Aug. 13, 10:10 a.m.: Hilton Grand Vacations fired its chief financial officer and executive vice president, James Mikolaichik, for “conduct and behavior not consistent with the company’s policies.”

The Orlando-based company said Mikolaichik’s termination was not related to any issues involving the company’s business, financial reporting or internal controls. It made the announcement late Friday afternoon.

Hilton Vacations named chief accounting officer Allen Klingsick its acting CFO and said it’s in the process of searching for a new CFO, according to the press release. The company reaffirmed its guidance and long-term growth objectives from its second quarter conference call on Aug. 2.

Mikolaichik held the position since August 2016. Prior to that, he was CFO of Manning & Napier Inc., an independent investment management firm. He also previously held positions at Old Mutual Asset Management and Deloitte & Touche LLP, according to the company’s most recent annual report.

Mikolaichik’s annual compensation was $450,000 in 2017 and he took home $657,394 with incentives, securities filings show.

The publicly traded timeshare company operates vacation ownership resorts for 295,000 club members. Hilton Worldwide spun off the company in January 2017.

A spokesperson for Hilton Grand Vacations did not immediately return a request for comment.

An earlier version of this story listed an incorrect title for Mikolaichik at his previous employer. 


Related Article

arrow_forward_ios
Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Neiman Marcus CEO Geoffroy Van Raemdonck (Credit: Getty Images)

Struggling Neiman Marcus scores loan from Credit Suisse for Coral Gables store

arrow_forward_ios