Whitbread has given finance director Chris Rogers the job of running its Costa Coffee chain and implementing worldwide expansion plans.
Chris Rogers, who joined Whitbread in 2005 as group finance director, will lead a five year growth plan to increase the size of the business to 3,500 stores worldwide, £1.3bn system sales and 3,000 Costa Express machines by 2016.
Costa is already the UK's largest coffee shop brand with almost 1400 stores and a further 800 units in 25 overseas markets, including China and India.
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
He takes the job following incumbent John Derkach's decision to join UK restaurant company, Tragus Group, as Chief Executive in August.
"Chris has played a major part in Whitbread's strategic development and, as a long standing member of the Costa management board, understands the vital brand and cultural DNA which has driven its success," said Andy Harrison, Whitbread's Chief Executive.
"Costa has an exciting future within Whitbread and Chris will spearhead our ambitious growth plans, which will create substantial shareholder value."
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
