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INTERCONTINENTAL HOTELS GROUP PLC

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InterContinental Hotels Group - Retirement of Patrick Cescau as Chair; To be succeeded by Deanna Oppenheimer

01/19/2022 | 09:03am EDT

InterContinental Hotels Group ('IHG') [LON:IHG, NYSE:IHG (ADRs)] today announces:

The retirement of Non-Executive Chair Patrick Cescau from the IHG Board, effective 31 August 2022

The appointment of Deanna Oppenheimer as Non-Executive Director and Chair Designate, effective 1 June 2022, to succeed Patrick Cescau as Non-Executive Chair from 1 September 2022 upon his retirement

Patrick Cescau has been IHG's Non-Executive Chair since 2013. During his tenure, Patrick has overseen IHG's growth with a deep commitment to strong governance and responsible business practices. He has placed high importance on engagement with all stakeholders and leading a Board composed of a rich mix of backgrounds and experiences.

Patrick Cescau, Non-Executive Chair, IHG, commented: 'I feel honoured to have overseen the growth of IHG over the past nine years and take great pride in the Board's leadership through the pandemic, where we have prioritised doing the right thing by all of our stakeholders. I am confident that I leave IHG in a strong position for growth. The strength of this Board, to be led by Deanna, reflects the range of talent, skills and experience that is integral to the company's culture and future success.'

Deanna Oppenheimer is Non-Executive Chair of Hargreaves Lansdown plc and sits on the Board of Thomson Reuters Corporation. She previously served as a Non-Executive Director of Whitbread PLC and Chair of their Remuneration Committee. She has also been Senior Independent Director of Tesco PLC, where she chaired the Remuneration Committee and served on the Board of Tesco Bank. Prior to this, Deanna led and transformed the retail banking division at Barclays plc. Her extensive board and executive-level experience across high-profile consumer brands will bring valuable insights and perspectives to IHG.

Deanna Oppenheimer commented: 'I am delighted to be joining the IHG Board and to have the opportunity to work with Keith and his Executive Committee to ensure that IHG's strategic priorities and responsible business goals continue to be delivered successfully. Patrick leaves behind a strong legacy and I look forward to working closely with my new Board colleagues to guide IHG's next phase of growth.'

Keith Barr, Chief Executive Officer, IHG, commented: 'I would like to thank Patrick for his counsel and support during his tenure as Chair. His dedication and stewardship has left the company in a strong position for high-quality future growth and I am certain the wealth of experience Deanna will bring to the IHG Board will make her an excellent successor.'

Deanna's appointment follows a thorough and independent recruitment process supported by an external executive search firm. She will join the Nomination Committee of the IHG Board upon her appointment as Non-Executive Director from 1 June 2022 and will subsequently Chair the Nomination Committee upon assuming the role of Non-Executive Chair from 1 September 2022.

Pursuant to LR 9.6.13R, Deanna is currently the Chair of Hargreaves Lansdown plc and a Non-Executive Director of Thomson Reuters Corporation. She was previously a Non-Executive Director of Tesco PLC, Whitbread PLC, AXA S.A. and WorldPay, Inc.

ENDS

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HARGREAVES LANSDOWN PLC 3.44% 854.8 Delayed Quote.-39.01%
INTERCONTINENTAL HOTELS GROUP PLC 2.87% 4871 Delayed Quote.-0.96%
THOMSON REUTERS CORPORATION 1.76% 124.33 Delayed Quote.-19.23%
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Financials (USD)
Sales 2022 1 824 M - -
Net income 2022 468 M - -
Net Debt 2022 1 682 M - -
P/E ratio 2022 24,5x
Yield 2022 1,03%
Capitalization 8 955 M 8 955 M -
EV / Sales 2022 5,83x
EV / Sales 2023 4,99x
Nbr of Employees 11 161
Free-Float 93,9%
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Managers and Directors
Keith Barr Chief Executive Officer & Executive Director
Paul Edgecliffe-Johnson Chief Financial Officer & Executive Director
Patrick Jean-Pierre Cescau Non-Executive Chairman
George Turner Chief Commercial & Technology Officer
Jill McDonald Independent Non-Executive Director
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