WHITBREAD PLANS CEO SUCCESSION
Whitbread PLC announces today that Andy Harrison has decided to retire as Chief Executive by the end of this financial year ending February 2016, ensuring a smooth transition. A succession process, led by the Chairman Richard Baker, is considering external and internal candidates.
Richard Baker said
“Whitbread has gone from strength to strength under Andy’s leadership, delivering consistent rapid and profitable growth built around our strong brands and the Company’s unique culture. Over the last five years our revenues have grown by 13% per annum, driving a 17% per annum growth in our earnings per share, which has increased the Company’s market capitalisation from £2.5bn to £9.7bn. Whitbread has a clear strategy, ambitious growth milestones and the strength of leadership to successfully deliver these goals.”
Andy Harrison said
“I have thoroughly enjoyed being part of the Whitbread family. It is a great company which has built some of the UK’s favourite brands by putting our people and our customers at the heart of everything we do. I would like to thank all our Whitbread winning teams for their hard work and commitment, which is central to our continuing success.
After 18 years as Chief Executive of three different public companies it is time for me to plan my retirement from full time executive life and to seek new challenges. In the meantime, it is business as usual, which means that the Whitbread team and myself remain fully focused on continuing to deliver profitable growth.”
The details required by Section 430 2B of The Companies Act 2006 can be found on www.whitbread.co.uk in the Investor section under governance/remuneration.
For more information please contact:
Nicholas Cadbury, Whitbread PLC +44 (0) 20 7806 5491
Joanne Russell, Whitbread PLC +44 (0) 1582 888633
Anna Glover, Whitbread PLC +44 (0) 7768 917 651
David Allchurch, Tulchan +44 (0) 20 7353 4200