Andrew Cosslett will step down as chief executive of InterContinental Hotels Group (IHG) on June 30, to be succeeded by current chief financial officer and head of commercial development, 49-year-old Richard Solomons.
Cosslett, 55, who has been CEO of UK-based IHG since February 2005, said, “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.
“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,” Cosslett added.
