Park Hotels & Resorts Inc. announced the departure of Thomas C. Morey, who served as Executive Vice President and Chief Investment Officer, effective September 8, 2026. The company disclosed the resignation in a filing dated September 11, 2026.
On September 9, 2026, Mr. Morey entered into a Separation Agreement and Release with the company. The agreement stipulates that Mr. Morey is entitled to receive severance payments and benefits outlined in the company's Executive Severance Plan. These payments are contingent upon the employee being terminated by the company without "cause" and subject to the employee complying with specific requirements.
Under the terms of the agreement, Mr. Morey is required to adhere to non-solicitation and non-competition obligations for a period of 12 months following the Separation Date. Additionally, he has agreed to a general release of claims against the company. The filing notes that this summary is not complete and refers readers to Exhibit 10.1, which contains the full text of the Separation Agreement.
