Gary L. Wilson
Encyclopedia
Gary L. Wilson was the Chairman of the Board of Northwest Airlines
and Chief Financial Officer of Walt Disney Company and Chief Financial Officer of Marriott Corporation.
in 1962 and an MBA degree from the Wharton Graduate School of Finance and Commerce at the University of Pennsylvania
in 1963. He received an Honorary Doctor of Laws degree from Pepperdine University
in 2005.
After returning from Asia, Wilson joined Marriott
in 1974. As Executive Vice President for Finance, Strategy and Development, he was responsible for financial management, strategic planning, hotel development, and managing Marriott’s industry-leading In-Flight Catering Division. Marriott’s market capitalization increased from $200 million in 1974 to $3.6 billion in 1987 for a 24% IRR driven principally by hotel expansion through innovative financing
techniques.
Among his accomplishments were creating and developing the Courtyard Hotel concept which now comprises nearly 20% of Marriott’s rooms, as well as Marriott time sharing, which is now the world’s leader. He also led the 1978 repurchase of one-third of Marriott shares, which at the time was the second largest stock buyback in history.
In 1985, Wilson joined the Walt Disney Company as Executive Vice President of Finance, Strategy and Development, when the Bass Brothers acquired control. During his time at Disney, market capitalization increased from $2 billion to $20 billion, an IRR of 58%, primarily by expanding hotel and theme park assets while increasing prices.
Among his accomplishments were increasing hotel rooms from 4,000 in 1985 to 18,000 rooms in 1992 and introducing timesharing based on the Marriott model which led to Disney becoming a leader in this profitable lodging segment. He also developed the Euro Disney theme park complex in Paris from site selection to financing, which included major concessions from the French government and culminated in one of Europe’s largest IPOs. In addition, he financed films through innovative public partnerships which shifted ownership risk to investors with Disney retaining large distribution fees and a share of appreciation.
Wilson led the buyout of Northwest Airlines
in 1989. In 1997, as Chairman of Northwest, he acquired control of Continental Airlines
. Prior to the 9/11 disaster, Northwest’s market capitalization reached $6 billion, providing investors with handsome returns on their $300 million initial equity investment. He served as Chairman or co-Chairman of Northwest from 1991 to 2007.
Wilson has successfully acquired other companies including Progress Rail in 2004 and is the creator and general partner of private equity funds Manhattan Pacific Partners, an investment fund, Thayer Lodging, a hotel investor, and Clarity China, which invests in Chinese companies. These transactions have produced IRRs to date of more than 25% — some over many years.
Prior to becoming a principal, Wilson served for over 15 years in senior management positions at Marriott and Disney where he was responsible for many innovations and instrumental in the creation of substantial long-term shareholder value.
Wilson is a director of two public companies: Yahoo! Inc. and CB Richard Ellis. He is a Trustee Emeritus of Duke University and serves on the Board of Overseers of The Keck School of Medicine at The University of Southern California and the board of directors of Millennium Promise. He is also a member of the NCAA Leadership Advisory Board and on the Advisory Board of NeoSpire Inc.
Northwest Airlines
Northwest Airlines, Inc. was a major United States airline founded in 1926 and absorbed into Delta Air Lines by a merger approved on October 29, 2008, making Delta the largest airline in the world...
and Chief Financial Officer of Walt Disney Company and Chief Financial Officer of Marriott Corporation.
Education
Wilson earned a bachelor's degree from Duke UniversityDuke University
Duke University is a private research university located in Durham, North Carolina, United States. Founded by Methodists and Quakers in the present day town of Trinity in 1838, the school moved to Durham in 1892. In 1924, tobacco industrialist James B...
in 1962 and an MBA degree from the Wharton Graduate School of Finance and Commerce at the University of Pennsylvania
University of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
in 1963. He received an Honorary Doctor of Laws degree from Pepperdine University
Pepperdine University
Pepperdine University is an independent, private, medium-sized university affiliated with the Churches of Christ. The university's campus overlooking the Pacific Ocean in unincorporated Los Angeles County, California, United States, near Malibu, is the location for Seaver College, the School of...
in 2005.
Career
Wilson began his career in 1964 in Manila as CFO of Trans-Philippines Investment Corp. (TPIC), a leveraged buyout of one of the world’s largest sugar companies. He created and was CEO of a sugar trading subsidiary that produced 20% of TPIC’s profit with no capital invested. He recommended and implemented the transformation of TPIC from a sugar company to one of Asia’s largest construction companies by acquiring Atlantic Gulf & Pacific (AG&P) in 1969 while selling the sugar mills.After returning from Asia, Wilson joined Marriott
Marriott
- Corporations :* Marriott International, international hotel company* Marriott Hotels & Resorts* Marriott Corporation , originally known as Hot Shoppes, Inc...
in 1974. As Executive Vice President for Finance, Strategy and Development, he was responsible for financial management, strategic planning, hotel development, and managing Marriott’s industry-leading In-Flight Catering Division. Marriott’s market capitalization increased from $200 million in 1974 to $3.6 billion in 1987 for a 24% IRR driven principally by hotel expansion through innovative financing
Innovative financing
Innovative financing refers to a range of non-traditional mechanisms to raise additional funds for development aid through "innovative" projects such as micro-contributions, taxes, public-private partnerships and market-based financial transactions....
techniques.
Among his accomplishments were creating and developing the Courtyard Hotel concept which now comprises nearly 20% of Marriott’s rooms, as well as Marriott time sharing, which is now the world’s leader. He also led the 1978 repurchase of one-third of Marriott shares, which at the time was the second largest stock buyback in history.
In 1985, Wilson joined the Walt Disney Company as Executive Vice President of Finance, Strategy and Development, when the Bass Brothers acquired control. During his time at Disney, market capitalization increased from $2 billion to $20 billion, an IRR of 58%, primarily by expanding hotel and theme park assets while increasing prices.
Among his accomplishments were increasing hotel rooms from 4,000 in 1985 to 18,000 rooms in 1992 and introducing timesharing based on the Marriott model which led to Disney becoming a leader in this profitable lodging segment. He also developed the Euro Disney theme park complex in Paris from site selection to financing, which included major concessions from the French government and culminated in one of Europe’s largest IPOs. In addition, he financed films through innovative public partnerships which shifted ownership risk to investors with Disney retaining large distribution fees and a share of appreciation.
Wilson led the buyout of Northwest Airlines
Northwest Airlines
Northwest Airlines, Inc. was a major United States airline founded in 1926 and absorbed into Delta Air Lines by a merger approved on October 29, 2008, making Delta the largest airline in the world...
in 1989. In 1997, as Chairman of Northwest, he acquired control of Continental Airlines
Continental Airlines
Continental Airlines was a major American airline now merged with United Airlines. On May 3, 2010, Continental Airlines, Inc. and UAL, Inc. announced a merger via a stock swap, and on October 1, 2010, the merger closed and UAL changed its name to United Continental Holdings, Inc...
. Prior to the 9/11 disaster, Northwest’s market capitalization reached $6 billion, providing investors with handsome returns on their $300 million initial equity investment. He served as Chairman or co-Chairman of Northwest from 1991 to 2007.
Wilson has successfully acquired other companies including Progress Rail in 2004 and is the creator and general partner of private equity funds Manhattan Pacific Partners, an investment fund, Thayer Lodging, a hotel investor, and Clarity China, which invests in Chinese companies. These transactions have produced IRRs to date of more than 25% — some over many years.
Prior to becoming a principal, Wilson served for over 15 years in senior management positions at Marriott and Disney where he was responsible for many innovations and instrumental in the creation of substantial long-term shareholder value.
Wilson is a director of two public companies: Yahoo! Inc. and CB Richard Ellis. He is a Trustee Emeritus of Duke University and serves on the Board of Overseers of The Keck School of Medicine at The University of Southern California and the board of directors of Millennium Promise. He is also a member of the NCAA Leadership Advisory Board and on the Advisory Board of NeoSpire Inc.