Allen Smith was chosen as the new Chief Executive Officer of Four Seasons Hotels and Resorts. The appointment was finally made after a five-month search for the best candidate to fit the position. Smith was the former head of Prudential Real Estate Investors.

In a statement issued today by the hotel chain, Smith will start his post on September 23. He succeeded former CEO Kathleen Taylor who exited the company last February.

According to a statement said by Cascade Investment's Chief Investment Officer, Michael Larson, Smith is a proven global growth leader and investor who best fits the luxury hotel company. Cascade Investment is a part of Kingdom Holding Co, which took Four Seasons Hotels and Resorts private in 2007.

Allen Smith worked as the CEO of Prudential Real Estate Investors since 2008. Smith started his career with PREI in 1987, according to the statement. With Smith's new position in a different company, Prudential promoted Eric Adler to succeed his CEO position in the company, said in a separate statement.