Morgans picks board member as chief executive

Morgans Hotel Group will name board member Michael Gross, an executive of major shareholder Yucaipa, as its new CEO and appoint Marriott International executives to run operations and development, said a person with firsthand knowledge of the plan.
Morgans, the original boutique hotel company and owner of such celebrity haunts as the Delano South Beach, has been under pressure from activist investors. But the appointments signal it might try to grow as an independent company rather than sell itself, said Jefferies analyst David Katz. Dan Flannery, who currently runs Marriott's boutique-style Edition brand, will head operations at Morgans, the source said.
Morgans' new head of development will be Yoav Gery, who leads development of full-service hotels in North America for Marriott, according to the source, who is not authorized to speak to the media.