Cooper Hotels has revealed that David Krueger, who has served as the company’s CFO for the last 40 years, has retired. Replacing him in the position is Allen Ruffin, who has been the company’s controller since 2000.
During his career at Cooper Hotels, Krueger directed the company’s financial and accounting operations, enhanced the financial stability of its portfolio and controlled the company’s benefits program for over 1,600 employees, according to Pace Cooper, president/CEO, Cooper Hotels.
“Cooper Hotels is known for its extremely stable, low turnover environment and the ability to continually promote from within,” said Cooper. “Not only turnover, but even retirements are rare at Cooper Hotels, and we are confident that promoting from within is the best course for replacing David.”
Krueger’s most recent major accomplishment was participating in senior management’s efforts to secure financing for a large portion of the company’s hotels and his guidance in the planning for the long-term renewal of Hilton franchise agreements for six of the company’s DoubleTree by Hilton properties for a cumulative 100 years. His leadership set the stage for enabling Cooper Hotels’ planned $100 million Hilton brand investment in the next five years, according to the company. He was also involved in recently completing the rebranding of the company’s 16 hotel franchises to achieve 100% Hilton brand loyalty in its portfolio.
Ruffin has been responsible for overseeing all hotel accounting functions including the direction of all controllers in the field. He has more than 39 years of experience in finance and accounting. Before joining Cooper Hotels, Ruffin was SVP, Medshares Inc.