Holiday Inn and Crowne Plaza owner InterContinental Hotels Group (IHG) has announced that its long-serving Chairmanm David Webster, is to retire at the end of 2012.
Webster has been IHG's Chairman since January 2004 and a member of the board since April 2003.
"My time with IHG has truly been a career highlight for me and I leave with a feeling of achievement for all that has been done since de-merger in 2003. I'm proud of the total shareholder return delivered over this period and I leave confident that a strong business with a sustainable growth strategy is in place," he said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
When he leaves the group on December 31st, he will be replaced by Patrick Cescau, former Unilever Chief Executive Officer (2005-2008).
"My fellow board members and I look forward to guiding IHG to even greater achievements as we focus on brand building and the strategic global expansion of the business in the near term and future," Cescau said.
BC
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
