Former Starbucks COO Troy Alstead appointed as independent board member by OYO

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Former Starbucks COO Troy Alstead has been appointed as an independent board member by OYO. In a statement, the company said Troy will join the board that includes industry experts like Gerardo Issac (Gerry) Lopez, Operating Partner at SoftBank Vision Fund; Betsy Atkins, CEO and Founder of Baja Corporation; Munish Varma, SoftBank Investment Advisers; Bejul Somaia, Managing Director, Lightspeed Venture Partners; Mohit Bhatnagar, Managing Director, Sequoia Capital; and Aditya Ghosh.

“OYO, with its unique asset-light business model and strong data capabilities, is creating something entirely new for more than three billion middle-income travelers and city dwellers who need accommodations that meet their standards and also their budgets,” Troy said.

As an independent member of the board, Troy will play a supervisory role and provide guidance to the founder and the management on key business decisions, the company said in a statement.

Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes, said, “Troy brings tremendous operating and governance experience that will help us continue delivering on our mission to help millions of middle-income people around the world gain access to quality accommodations at different price points.”

As OYO continues to grow and to deepen its relationships with asset owners and consumers around the world, it is fortunate to have seasoned professionals like Troy on its board of directors, he added.

OYO:

OYO Rooms, also known as Oyo Homes & Hotels, is an Indian hotel chain. It is one of the largest and fastest-growing hospitality chains of leased and franchised hotels, homes and living spaces. Founded in 2013 by Ritesh Agarwal, OYO initially consisted mainly of budget hotels.

Troy Alstead:

Alstead joined Starbucks in 1992 when the company had around 100 stores and still was private, with stores primarily in the Northwest. Today, the chain operates more than 23,000 retail stores in 70 countries. Alstead served as CFO and group president of the global business services unit before getting promoted to COO in February 2014. He held the CFO post for six years. Alstead held earlier positions in several other senior roles with the Seattle-based company. Now he is an independent board member for OYO.