InterContinental Inns Group [LON:IHG, NYSE:IHG] immediately pronounces that Keith Barr has knowledgeable the Board of his resolution to step down from his function as Group Chief Govt Officer (CEO) and from the IHG Board. Keith intends to return together with his household to the US. His remaining day as CEO shall be 30 June, after which he’ll stay out there to assist and advise the enterprise till the top of 2023.
Keith shall be succeeded by Elie Maalouf, a member of IHG’s Board and Govt Committee, who has led IHG’s Americas enterprise as regional CEO for the previous eight years. Elie will take up his new place on 1 July and shall be based mostly within the UK to steer the enterprise.
Keith has been part of IHG for greater than 30 years and was appointed to the Board and as CEO in July 2017. Executing a transparent technique, he has remodeled IHG to place the corporate for long-term sustainable development, surpassing 6,000 open inns, broadening the portfolio with the addition of seven manufacturers in six years, considerably investing in IHG’s digital capabilities and loyalty provide, embarking on a 10-year accountable enterprise technique, and progressing in key areas of DE&I. Throughout Keith’s tenure, IHG has additionally efficiently navigated a world pandemic and continued to develop its footprint and status with key stakeholders world wide.
Elie joined IHG as Americas CEO in February 2015. Beneath his management, the area’s property has grown from roughly 3,700 inns to greater than 4,350. Elie led the supply of document income, oversaw the launch of latest manufacturers and codecs, and strengthened how the enterprise drives worth for our lodge house owners. Elie has spent a number of many years within the world hospitality sector and has a breadth of expertise spanning lodge growth, branding, finance, actual property and operations administration, in addition to meals and beverage experience, with a powerful monitor document of delivering distinctive outcomes. Elie has lived and labored internationally together with in Europe, the Center East, North Africa and the US, and speaks 4 languages.
To assist Elie and Chief Monetary Officer Michael Glover and to assist guarantee a easy transition, Keith will stay out there to the enterprise over the remainder of 2023. A course of is underway to nominate a successor to Elie as Americas CEO.
Deanna Oppenheimer, Chair of IHG, commented: “It has been a pleasure to work with Keith, and on behalf of the Board and our colleagues I wish to thank him for his profitable management of IHG and congratulate him on his exceptional contribution. Beginning in our inns within the US earlier than transferring into company roles which have seen him work throughout worldwide markets, Keith has used all his expertise to steer a real transformation of IHG in his six years as CEO. He has rallied a enterprise round a transparent technique with lodge house owners and company at its coronary heart, strengthened IHG’s enterprise platform, and positioned the enterprise on a path to long-term sustainable development and to proceed a superb monitor document of shareholder worth creation. He has achieved this with nice heat and persona – not least in the course of the depths of the pandemic – and we want him the easiest for the longer term.
Succession planning has been an indicator of the enterprise for a few years and Elie’s appointment is the results of a rigorous course of and a dedication to put money into the event of our leaders, as was the case when Keith grew to become CEO in 2017. Elie has been an instrumental a part of our enterprise in his eight years working our largest working area and as a member of the Board since 2018. His important business expertise and deep understanding of our enterprise makes him extraordinarily properly positioned to tackle the function of CEO and guarantee we proceed to progress and execute towards our profitable technique. The Board and I look ahead to working with him in his new place.”
Keith Barr, CEO stated: “I really feel extremely privileged to have spent three many years as a part of IHG, working alongside the various gifted colleagues that make it such a particular firm, and in partnership with our lodge house owners who share our ardour for hospitality. I’ve been fortunate sufficient to expertise this in a number of international locations through the years and to have spent the final six as CEO has been an honour. After a very long time dwelling overseas, now could be the precise time for me and my household to return to the US. I’m happy with the sturdy place that IHG is in immediately, because of the investments we have now made to remodel each facet of our enterprise, ship for our company and house owners, and develop and function our manufacturers in the precise manner world wide. I’m excited for what lies forward for IHG and having labored so intently collectively, to see Elie lead the enterprise and construct on all he has achieved within the Americas.”
Elie Maalouf, Americas CEO and CEO Designate stated: “I’m extraordinarily proud to be appointed CEO of one of many world’s main lodge corporations and excited to work with our gifted groups and house owners world wide on what shall be an necessary new chapter for IHG. Working intently with Keith and as an Govt Committee, we’ve made a variety of vital strategic investments lately that place us with thrilling alternatives to grasp IHG’s full business main potential, by driving the efficiency and development of our implausible manufacturers and delivering sturdy returns for all our stakeholders.”