Oyo Takes Steve Albercht Onboard As Non-Executive Director

Hotel aggregator, Oyo, announced today its decision to take W Steve Albercht onboard as a non-executive director on the company’s board of directors.

Steve is a former president of the American Accounting Association and Association of Certified Fraud Examiners. As a professor, he has taught full-time at the University of Illinois, Stanford and Brigham Young University. He is currently on the boards of SkyWest Airlines, Larry H Miller Group of Companies, and Deseret Mutual Benefit Association. He is also a certified public accountant, internal auditor and fraud examiner.

As a non-executive director of the board, Albrecht will play a supervisory role and guide the founder and management on key business decisions, Oyo Hotels & Homes said in a statement.

Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes said, “We are delighted to welcome Steve to OYO’s board of directors. Steve is an expert and a thought leader who will help us deliver on sustainable growth, operational and service excellence, and help us continue building a strong culture of corporate governance and accountability. As COVID-19 continues to impact the business and forces businesses to rethink its strategies, our board has also come together and has been constantly guiding us on business continuity and recovery measures. As we go through this, we will continue to build on our core competencies and remain committed to our mission of offering great quality spaces. We are fortunate to have seasoned professionals like Steve join us on our mission.”

Albrecht’s experience in audit and in corporate governance as a board member of companies is highly appreciated in the corporate governance field. 

Dr W Steve Albrecht said, “The travel and hospitality industry has been significantly impacted worldwide, but OYO’s offerings are relevant, affordable and safe.  I’m excited to join in its mission of offering great quality spaces at the right price points. I’m also excited to be joining a great board of directors who, together with an outstanding management team, will guide the company to success.  As the world recovers from this global pandemic, this is an exciting time to be joining the board.”

“I look forward to working with Ritesh, the management team, and my fellow board members as OYO strives to become the world’s most beloved and preferred hotel brand,” he added.

He will join the board that has industry experts like Troy Alstead, former COO Starbucks, Gerardo Issac (Gerry) Lopez, Operating Partner at SoftBank Vision Fund, Betsy Atkins, CEO & Founder of Baja Corporation, Munish Varma, SoftBank Investment Advisers, Bejul Somaia, Managing Director, Lightspeed Venture Partners and Mohit Bhatnagar, Managing Director, Sequoia Capital and Aditya Ghosh, former CEO - OYO India & South Asia & Former President Indigo Airlines, making it a powerful combination.