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# Gross resigns as Morgans CEO, Kalisman named interim
- URL: https://hospitality.pro/gross-resigns-as-morgans-ceo-kalisman-named-interim/
- Published: 2013-09-04T04:54:28.000Z
- Updated: 2013-09-04T04:54:28.000Z
- Author: H L
- Tags: Hospitality Industry News, Human Resources, #wordpress, #Import 2026-04-16 12:15

Morgans Hotels Group Co. CEO Michael Gross resigned on August 30, replaced on an interim basis by company Chairman Jason Kalisman, according to a Bloomberg report.

Kalisman is also the founder of Morgans largest shareholder, OTK Associates LLC, which in June led an ouster of the board, as the company failed to turn a profit since March 2011\. Along with seven new board members, Kalisman will be charged with trying to return the company to profitability.

Kalisman, 34, a director of Morgans since March 2011, is also the founder and chief executive of investment company Talisman Group LLC. He will receive US$1 in annual compensation as interim chief executive, according to Tuesday?s regulatory filing.

Gross will be paid in part a lump sum of US$500,000, a grant of 58,334 restricted stock units, and 25,000 additional shares that will vest a year from his departure date of August 30.

###### Source HotelsMag