Richard Solomons to Succeed Andrew Cosslett as IHG’s Chief Executive

InterContinental Hotels Group has confirmed that Andrew Cosslett will step down as Chief Executive on 30 June 2011.

He will be succeeded by Richard Solomons. A Board member since 2003 and currently Chief Financial Officer and Head of Commercial Development, Richard will start in his new position as Chief Executive on 1 July 2011.

“Andy has been an outstanding Chief Executive since joining the company in February 2005 and we are very appreciative of the contribution he has made during his time at IHG. While we understand and respect his decision to leave at this stage, we are extremely sorry to see him go,” said David Webster, Chairman of InterContinental Hotels Group PLC. “In Richard Solomons we have an able and worthy successor. Richard is a highly respected executive, with deep knowledge of our industry, our business and our brands. He is the Board’s first choice to take the company forward. 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. Richard has been a member of the Board since IHG listed as an independent company in 2003 and has a proven track record as a business leader. He has a deep understanding of IHG drawn from his time in a number of senior roles and I am looking forward to working with him in his new role as Chief Executive.”

Richard Solomons Biography

Richard Solomons, 49, has been with IHG since June 1992.

A member of the IHG Board and Executive Committee, Richard leads the Global Finance organisation for the Group. Richard is responsible for strategy, corporate and regional finance, investor relations, tax, treasury, commercial development and procurement.

Richard joined the group in June 1992 and subsequently held a number of senior roles including Chief Operating Officer of the Americas Hotels division and Interim President of the Americas Region.

He has also been Finance Director of Britvic and Chairman, ahead of its initial public offering (IPO) in 2006. Richard was appointed Finance Director of IHG in February 2003.

Richard qualified as a Chartered Accountant with KPMG Peat Marwick in 1985, and, prior to joining the Group worked in Investment Banking for seven years with Hill Samuel Bank Limited, based in New York and London.

Married with three children, Richard has a BA (Econ) Hons from the University of Manchester.

A full search process is now underway for a replacement Chief Financial Officer.

See other recent news regarding: Airlines, Airports, Awards, Flights, Codeshare, FFP, Inflight, Lounges, First Class, Business Class, MICE, GDS, Rewards, Miles, Hotels, Apartments, Promotions, Spas, Yoga, Retreat, New Hotels, Traffic, Visitor Arrivals, Cruises, Free Deals, Interviews, Videos, Richard Solomons, IHG, InterContinental Hotels Group, CEO