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

James Mikolaichik was named CFO in August 2016

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 Articles

arrow_forward_ios
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)
Arbor Management buys multifamily dev site near Aventura for $10M
Arbor Management buys multifamily dev site near Aventura for $10M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Blink’s Michael Farkas and Lionstone’s Diego Lowenstein with 605 Lincoln Road (Google Maps)
Blink buys office condo on Miami Beach’s Lincoln Road for new HQ
Blink buys office condo on Miami Beach’s Lincoln Road for new HQ
Photo courtesy of David Iglesias
Boca Beach House condo project scores $43M construction loan
Boca Beach House condo project scores $43M construction loan
Nick Rojo and Jeff Burns (Affiliated, iStock)
Affiliated Development launches $125M workforce housing fund
Affiliated Development launches $125M workforce housing fund
Tom Cabrerizo and 6790-6880 Southwest 80th Street (Google Maps)
Developers score $15M construction loan for Miami townhouse development
Developers score $15M construction loan for Miami townhouse development
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...