When you think of popular hotels, several names may come to mind — Marriott Hotels & Resorts, Ritz Carlton and Residence Inn, for instance. However, behind Marriott’s expansion into a global brand is another influential name as well — William J. Shaw, MBA ’72, who recently retired as vice chairman of Marriott after 37 years of leadership.
During his tenure, Shaw held several key positions helping to spur the company’s growth. He attributes his meteoric rise to “working hard and being surrounded by a lot of bright and talented people.”
Marriott Corporation was involved in multiple businesses when Shaw began his career. He helped it evolve to focus on hotels and timeshare resorts. Today, the company is the world’s lodging leader with $11 billion in revenues. Based in Bethesda, Md., Marriott boasts 129,000 employees and more than 3,500 properties in 70 countries and territories.
A businessman’s beginnings
Shaw’s business acumen may have started as a child growing up in Arlington, Va., where his father was a banker and his mother an accountant. He always dreamed of a career in business.
He earned his bachelor’s degree in business administration from the University of Notre Dame in 1967 and entered Olin Business School’s MBA program that fall. While Olin’s stellar standing attracted him to the school, he says it was a scholarship that gave him the necessary resources to attend. “Without the scholarship, I would not have been able to go to graduate school,” he says.
“My experience at Olin was very helpful to me and the start of my career. It is where I discovered my interest in accounting,” Shaw continues. “Also, the diversity in the business school provides a wonderful opportunity for students to learn from others with different backgrounds.”
Following his third semester at Olin, Shaw was drafted by the U.S. Army. After graduating from Artillery Officer Candidate School, he honed his skills as a finance officer at Fort Leonard Wood, Mo. He returned to the university and completed his master’s degree in 1972.
An executive’s rise
Before joining Marriott in 1974 as a corporate accounting manager, Shaw worked briefly for Arthur Andersen & Co. “I was spending half my time at Arthur Andersen working on the Marriott account. I was subsequently asked to join the company and help make decisions rather than auditing ones that had already been made,” he recalls.
His decisions helped propel Marriott to new heights and fueled his career trajectory. Over the next decade, Shaw assumed top positions in the company: corporate controller, corporate vice president, senior vice president-finance and treasurer. The company appointed him chief financial officer and executive vice president in 1988. Four years later, he was named president of the Marriott Service Group.
“The greatest satisfaction I had was the cultivation of people,” Shaw says. “We introduced a number of leadership development programs for women, as well as diversity and inclusion programs.”
In 1997, he became president and chief operating officer of Marriott International. In that role, he led all of the company’s worldwide operations. He also served on the board of directors.
“The greatest satisfaction I had was the cultivation of people,” Shaw says. “We introduced a number of leadership development programs for women, as well as diversity and inclusion programs. We also established the Committee for Excellence, a standing committee of the board of directors, which brought the board and senior management together to promote diversity. I am proud we were able to significantly increase diversity among our employees, customers, suppliers and hotel owners.”
Shaw was named vice chairman in 2009. During this appointment, he directed Marriott’s global finance and the owner and franchise service areas, as well as architecture, construction and information resources. He retired in March 2011. However, in February, Marriott announced plans to spin off its timeshare operations and development business late in 2011 as a new independent publicly traded company with Shaw as the chairman of the board.
Since retiring, Shaw has enjoyed spending time with his wife, Diane, their five children (including alumnae Amy Palumbo, MSW ’98, JD ’98, and Karen Brown, MSW ’99) and seven grandchildren. He still makes it a priority to help others.
Creating opportunities for others
As a life benefactor of the William Greenleaf Eliot Society and a member of the Danforth Circle Dean’s Level, Shaw is a staunch advocate of Olin Business School. He is a longtime scholarship supporter, and in 2004, he established an endowed scholarship at the business school because, he explains, “I was very fortunate that I received a scholarship to attend Olin.”
Mickey Turner, MBA ’11, feels the same way. “As a recipient of the William J. Shaw Scholarship last year, I am extremely privileged and lucky,” Turner says. “His generosity has allowed me to pursue goals that would otherwise not be possible. I feel that his altruism has encouraged me to contribute to the learning of Washington University students now that I am an alumnus.”
“Bill Shaw’s leadership and support of the Olin Business School serve as an inspiration to the entire university community,” adds Mahendra R. Gupta, PhD, dean of Olin Business School and the Geraldine J. and Robert L. Virgil Professor of Accounting and Management. “Over the years, his scholarship has allowed students from all walks of life the opportunity to obtain a great business education. His steadfast dedication has made a positive impact, and we appreciate his contributions.”
Shaw says: “It’s important to me to give back and provide opportunities for others. I had a great experience at Washington U., and I’ve enjoyed working with other alumni as ambassadors of the university.”
Currently, Shaw serves in Washington, D.C., as vice chair of the Regional Cabinet and one of the vice chairs of the Regional Scholarship Initiative Committee. He is a past member of the Eliot Society Patrons Membership Committee and was a member of the Washington, D.C., Regional Campaign Committee during the Campaign for Washington University: A Partnership for the 21st Century. He received the Founders Day Distinguished Alumni Award in 2001, and Olin presented Shaw with its Distinguished Alumni Award in 1996.
His giving spirit also touches others outside the university. He serves on the board of trustees of the University of Notre Dame and the board of directors of the Washington Mutual Investors Fund and the United Negro College Fund. He is also a member of the NCAA Leadership Advisory Board.
Shaw says: “It’s important to me to give back and provide opportunities for others. I had a great experience at Washington U., and I’ve enjoyed working with other alumni as ambassadors of the university.”
Donna Robinson is associate director of development communications.
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