Extended Stay America, Inc., the operator of an apartment-style hotel chain, and its paired-share real estate investment trust (REIT) ESH Hospitality, Inc., announced Friday the resignation of its chief financial officer, Brian Nicholson, and named his replacement, according to a press release.

Nicholson resigned from his position as CFO effective immediately “to pursue other interests,” the release said, but he will remain with the company until Feb. 26, 2021 to oversee the transition.

The company added that Nicholson’s resignation” is not related to any issues involving the company’s operations, financial statements, internal controls, policies or practices.”

The board of directors appointed David Clarkson to succeed Nicholson as CFO, effective immediately.

Clarkson, 49, has served as Extended Stay’s treasurer since May 2013 and took the role of vice president of financial planning in September 2015. He also became the interim CFO between January 2018 and May 2018. He held the role of director of corporate finance between May 2011 and May 2013. Before joining Extended Stay, he worked as the vice president of finance and development for The Clarkson Group, a real estate company in the hotel space. From 1996 to 2004, Clarkson worked in finance and revenue management for Extended Stay’s predecessor.

“Few if any persons have the depth of institutional knowledge about Extended Stay America that David Clarkson has amassed over his seventeen years of service with the company, and I believe no one is more qualified to take over as its CFO,” Extended Stay CEO Bruce Haase said in a statement.

Clarkson earned a bachelor’s degree from Dartmouth College and an MBA from Miami University. He’s also a CFA charterholder.

Extended Stay America, Inc., (STAY) was last trading down 4.26 percent, or 53 cents, at $11.78 on Friday.