Millennium & Copthorne Hotels PLC Additional Board Changes (1333X)
February 17 2017 - 1:00AM
UK Regulatory
TIDMMLC
RNS Number : 1333X
Millennium & Copthorne Hotels PLC
17 February 2017
For immediate release 17 February 2017
MILLENNIUM & COPTHORNE HOTELS PLC
LEI: 2138003EQ1O4LZ1JNH19
Additional Board Changes
Millennium & Copthorne Hotels plc (the "Company") today
announces the following additional changes to its Board of
Directors (the "Board") and executive management team, further to
the Company's announcement on 8 February 2017 regarding the
retirement of Alexander Waugh.
Retirement of Nicholas George
Like Mr Waugh, Nicholas George has decided to retire from the
Board with effect as of 5 May 2017 and accordingly will not stand
for re-election at this year's Annual General Meeting. Mr George,
who serves as the Senior Independent Director and as a member of
the Audit, Risk, Remuneration and Nominations Committees, has been
an Independent Non-Executive Director of the Company since June
2009.
Appointment of Howard Wu
In connection with the retirements of Mr Waugh and Mr George,
Howard Wu has been appointed as an Independent Non-Executive
Director with effect from today, 17 February 2017. Mr Wu brings
broad information technology, data security and e-commerce
experience to the Board, having held senior positions with
technology companies in North America and Europe. He presently
serves as the Vice President, Head of Software Defined
Infrastructure at Ericsson and technology advisor to the office of
the Mayor of Taipei, Taiwan. Prior to his current roles, Mr Wu was
President of Greater China at Joyent Inc., a software and services
company, and founder and Chief Executive Officer of Layerboom
Systems, a company specialising in cloud infrastructure software
that was acquired by Joyent. He was educated in the U.S. and
Canada, having obtained a Bachelor of Arts degree in Political
Science from Furman University in South Carolina and an Executive
MBA from Simon Fraser University in Vancouver, British
Columbia.
Appointment of Interim Group Chief Executive Officer
Whilst the search for a permanent Group Chief Executive Officer
continues, after consideration by the Nominations Committee and
Board, Mr Tan Kian Seng, who joined the Group as Group Chief of
Staff and interim President of Asia in October 2016, will assume
the position of Interim Group Chief Executive Officer of the
Company on 1 March 2017 following Aloysius Lee's retirement at the
end of February. Mr Lee has been transitioning his responsibilities
to Mr Tan over the past several weeks and will continue to do so as
necessary to ensure a smooth handover process. Mr Tan is based in
Singapore and has not been appointed as a Director at this time,
although it is expected that he will spend significant time in
London and attend Company Board meetings on a regular basis.
Prior to working for the Group, Mr Tan had over 30 years of
senior executive experience in operations and managing finance,
legal, investor relations, purchasing, business development, human
resources, information technology and other functions. Most
recently he served as advisor to the CEO and Chairman of Venture
Corporation Limited ("Venture"), listed on the Singapore Exchange,
a leading global provider of technology services, products and
solutions that has over 12,000 employees and operations in markets
worldwide. Mr Tan joined Venture in 2001 and held increasingly
senior roles in various jurisdictions, including Vice President of
Operations in Malaysia until February 2006, Chief Financial Officer
until February 2012 and Group President from 2011 until February
2016. Mr Tan helped to drive the growth of the business during his
tenure and in 2015, Venture achieved sales of S$2.65 billion with
annual profit of S$154 million.
Before joining Venture, Mr Tan was Finance Director and held
other senior finance roles with LenovoEMC (formerly Iomega Corp.)
and financial controller and accounting roles with various
technology and toy manufacturers. He started his career as an
accountant in the U.K. and audit manager in Malaysia with the audit
firms currently known as Deloitte and PricewaterhouseCoopers
respectively. Mr Tan is an associate of the Institute of Chartered
Accountants in England and Wales.
Committee Appointments
Given Mr Wu's experience, he has been appointed to the Risk
Committee effective as of today.
Further details on changes to Board Committee membership and the
role of Senior Independent Director resulting from the retirements
of Mr George and Mr Waugh will be announced in due course.
Mr Kwek Leng Beng, Chairman of the Company, said, "On behalf of
the Board, I would like to thank Alexander and Nick for their long
service and contribution to the Group over the past many years. I
wish them and Aloysius the best in their next endeavours. Whilst
the three Directors are retiring from the Board, we must look
forward. In that regard, I would like to welcome Howard to the
Board and congratulate Kian Seng on his new appointment. In light
of the challenging geopolitical climate and structural changes in
the hospitality industry, including a greater focus on new
distribution platforms, it is imperative that the skills and
experience of the Directors and senior management team continue to
evolve to meet these challenges. I look forward to working with
Howard and Kian Seng, together with the rest of the team, to
develop and grow the business, which continues to be underpinned by
our successful model of long-term asset ownership and lean
operations."
No further information is required to be disclosed pursuant to
Listing Rule 9.6.13R (1) to (6) in respect of Mr Wu's
appointment.
Enquiries: +44 (0)20 7872 2444
Jonathon Grech, Group General Counsel and Company Secretary
Peter Krijgsman, Financial Communications (Media)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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