IHG announces retirement of Chairman David Webster and appointment of new Chairman
IHG (InterContinental Hotels Group) announced that David Webster will retire on 31 December 2012. He has been Chairman of the Group since January 2004 and a member of the Board since April 2003. Patrick Cescau will become Chairman upon David’s retirement.
Patrick was Group Chief Executive of Unilever from 2005 to 2008 and previously held other senior positions with the company, including Finance Director and CEO of the Foods Division. He will join the Board of InterContinental Hotels Group PLC as Chairman on 1 January 2013.
David Webster said:
"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 demerger 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."
"An excellent executive management team is in place under Richard Solomons’ leadership and I know they will drive continued success in the future.”
Patrick Cescau said:
"I’m excited to be joining the IHG Board in January of next year and working with Richard Solomons on the next phase of growth for this fantastic company following the well-charted course set by my predecessor. 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."
David Kappler, Senior Independent Non-Executive Director, said:
"David Webster will have led the Board for almost a decade with an exemplary commitment making him indisputably linked to our achievements. His counsel and presence have been invaluable and we wish him well for the future. I will continue to work closely with him until the end of the year.”
“It gives me great pleasure to welcome Patrick to IHG. His extensive international experience and understanding of leading brands will make him ideally qualified to lead our Board from next January."
In accordance with paragraph 9.6.13 (1) of the Listing Rules, Patrick Cescau has advised that he is currently a Director of Pearson PLC, Tesco PLC and International Airlines Group and was formerly a Director of Unilever PLC. In accordance with paragraph 9.6.13 (2) - (6) of the Listing Rules, he has advised that he has nothing to disclose.
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