New chairman for IHG

New chairman for IHG

Former Unilever chief executive Patrick Cescau is to become chairman of InterContinental Hotels Group.

He will take over as chairman on David Webster’s retirement from the world’s largest hotel group at the end of the year.

Webster has been chairman of IHG since 2004 and a member of the board since 2003.

Cescau was appointed as a non-executive director of International Airlines Group last year.  He was group chief executive of Unilever from 2005 to 2008 and previously held other senior positions with the company, including finance director and chief executive of the foods division.  He will join the board of IHG on January 1, 2013.

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."

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."


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