Andrew Cosslett, CEO of IHG, is resigning his post at CEO effective June 30. Richard Solomons, CFO and head of commercial development, will succeed him. “Richard and Andy have worked very closely over the last six years and in making this appointment, the board is ensuring continuity in management and in our strategy to drive growth,” says IHG chairman David Webster.
“We have a powerful portfolio of brands, including a now fully rejuvenated Holiday Inn, and established leading positions in the biggest and fastest growing markets of the world, including China,” Cosslett says in a statement. “The prospects for the group are excellent and with IHG entering the next phase of its development, and after six years, this is the right time to hand over the reins.”
