InterContinental Hotels Appoints CFO As New CEO
16 März 2011 - 9:02AM
Dow Jones News
InterContinental Hotels Group PLC (IHG), the world's largest
hotel operator by number of rooms, Wednesday announced that Chief
Executive Andrew Cosslett will step down at the end of June and
will be succeeded in the top job by Richard Solomons, chief
financial officer and head of commercial development.
Solomons, 49, has been with IHG since June, 1992, and has held a
number of senior roles including chief operating officer of the
Americas hotels division and interim president of the Americas
region.
He has been finance director of Britvic PLC (BVIC.LN) and
chairman, ahead of its initial public offering in 2006. He was
appointed finance chief in February 2003.
"In Richard Solomons we have an able and worthy successor," said
Chairman David Webster in a statement. "Richard is a highly
respected executive, with deep knowledge of our industry, our
business and our brands. He is the board's first choice to take the
company forward."
At the same time, he paid tribute to Cosslett, who has been CEO
of IHG since February, 2005.
"Andy has been an outstanding chief executive since joining the
company in February, 2005, and we are very appreciative of the
contribution he has made during his time at IHG," Webster added.
"While we understand and respect his decision to leave at this
stage, we are extremely sorry to see him go."
Cosslett, 55, joined IHG from Cadbury Schweppes, where he spent
14 years in marketing and general management. He occupied a variety
of senior roles with Cadbury Schweppes including chairman of
Cadbury Schweppes Australia, CEO of the Asia-Pacific confectionery
business, managing director for Great Britain and Ireland and
president for Europe, Middle East and Africa.
Before joining Cadbury Schweppes, he spent 11 years with
Unilever PLC (ULVR.LN).
Solomons takes up his new role July 1. The company has begun a
search for a new chief financial officer.
IHG's shares closed Tuesday at 1,255 pence. They have climbed
26% in value in the past 12 months.
-By Jonathan Buck, Dow Jones Newswires; +44 (0)207 842 9237;
jonathan.buck@dowjones.com
Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
