(FROM THE WALL STREET JOURNAL 12/3/14)
By Craig Karmin
Loews Hotels & Resorts has named Kirk Kinsell as chief
executive, poaching a top executive from the larger
InterContinental Hotels Group PLC.
Mr. Kinsell, president of the Americas for InterContinental and
a 35-year industry veteran, will replace CEO Paul Whetsell,
effective March 2. Mr. Whetsell will become vice chairman,
according to Loews.
At InterContinental, Mr. Kinsell, 59 years old, was heavily
involved with the development and launch of the boutique Hotel
Indigo brand as well as the Even Hotels line, which emphasizes
health and fitness. He also was involved in developing Holiday Inn
Express, one of InterContinental's most profitable and
fastest-growing brands.
Shares of InterContinental fell less than 1% to $40.77 in 4 p.m.
New York Stock Exchange composite trading on Tuesday. Shares of
Loews Hotels parent company Loews Corp. rose two cents to
$41.25.
Mr. Whetsell, 64, started in January 2012. Jonathan Tisch, Loews
Hotels chairman, said Mr. Whetsell told him a year ago that he was
thinking of stepping aside, and Loews quietly began searching for a
successor.
Mr. Tisch said Loews would continue to focus on its core product
of luxury hotels, but added that "we are open to many different
options." The company has said it also is preparing to launch a
luxury lifestyle brand early next year.
Elie Maalouf will take over as head of the Americas at
InterContinental. He is currently an adviser with consultants
McKinsey & Co.
Access Investor Kit for InterContinental Hotels Group Plc
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=GB00BN33FD40
Access Investor Kit for InterContinental Hotels Group Plc
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US45857P5098
Access Investor Kit for Loews Corp.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US5404241086
Subscribe to WSJ: http://online.wsj.com?mod=djnwires