PPHE Hotel Group Limited Corporate Governance Review and Board Changes (1195R)
June 12 2018 - 6:02AM
UK Regulatory
TIDMPPH
RNS Number : 1195R
PPHE Hotel Group Limited
12 June 2018
12 June 2018
PPHE Hotel Group Limited
(the "Company")
Corporate Governance Review and Board Changes
PPHE Hotel Group Limited, an international hospitality company
which owns and develops hotels and resorts, operates the Park
Plaza(R) brand in EMEA and owns the art'otel(R) brand, today
announces certain changes to its board of directors (the Board)
following a review of its corporate governance arrangements.
The Board is committed to and recognises the importance of
maintaining a high standard of corporate governance. Therefore, the
Company is pleased to announce the following changes and updates to
the Board with effect from today:
-- Kevin McAuliffe has been appointed Non-Executive Deputy
Chairman of the Company and in this role will fulfil the
responsibilities of providing leadership of the Board and ensuring
effectiveness on all aspects of its duties and roles. Mr McAuliffe
has entered into a new letter of appointment with the Company which
has been updated to reflect his appointment as Non-Executive Deputy
Chairman of the Company and more generally to reflect prevailing
market standards. Mr McAuliffe was formerly the Senior Independent
Director of the Company, a position which he has now
relinquished;
-- Nigel Jones has been appointed Senior Independent Director of
the Company, taking over the role previously performed by Mr
McAuliffe. Mr Jones has entered into a new letter of appointment
with the Company which has been updated to reflect his appointment
as Senior Independent Director of the Company and more generally to
reflect prevailing market standards; and
-- the Company has updated the terms of reference and
composition of its Nomination, Remuneration and Audit Committees.
Each such committee will comprise the Company's three independent
non-executive Directors, being Kevin McAuliffe, Nigel Jones and
Dawn Morgan. Mr Jones will chair the Nomination and Remuneration
Committees and Dawn Morgan will chair the Audit Committee. The
updated terms of reference will be made available on the Company's
website.
The Board welcomes the appointment of Mr McAuliffe and Mr Jones
to their new positions and believes their impressive breadth of
experience and knowledge will complement the balance of skills
required to carry out their respective roles on the Board. Although
Mr McAuliffe and Mr Jones have served as Directors of the Company
for over ten years, each are regarded by the Board as being
independent of management and free from any business or other
relationship that could materially interfere with the exercise of
their independent judgement. The independence of the non-executive
Directors is considered at least annually by the Company.
The Company further announces that Chen Moravsky is stepping
down as a non-executive Director of the Company and that Roni
Hirsch is stepping down as the alternate Director of Eli
Papouchado, the Company's Non-Executive Chairman, each with
immediate effect.
The Board would like to thank Mr Moravsky and Mr Hirsch for
their invaluable contribution to the development of the Group's
business.
Enquiries:
PPHE Hotel Group Limited
Robert Henke, Executive Vice President Tel: +31 20
of Corporate Affairs 717 8600
and Customer Experience
Lisa Woodman, Director of Corporate Tel: +44 (0)20
Communications 7034 4800
Hudson Sandler
Wendy Baker/Sophie Lister Tel: +44 (0)20
7796 4133
pphe@hudsonsandler.com
Notes to editors
The Company is a Guernsey registered company and through its
subsidiaries (the Group), jointly controlled entities and
associates, owns, leases, operates, franchises and develops
full-service upscale, upper upscale and lifestyle hotels in major
gateway cities, regional centres and select resort destinations,
predominantly in Europe.
The majority of the Group's hotels operate under the Park
Plaza(R) Hotels & Resorts or art'otel(R) brands. The Group has
an exclusive licence from Carlson Hotels Worldwide Inc., one of the
world's largest hotel groups, to develop and operate Park Plaza(R)
Hotels & Resorts in Europe, the Middle East and Africa.
The art'otel(R) brand is wholly owned by the Group.
The Group has a controlling ownership interest (51.97% of the
share capital) in Arena Hospitality Group, one of Croatia's
best-known hospitality groups.
The Group's portfolio of owned, leased, managed and franchised
hotels comprises 39 hotels in operation offering a total of
approximately 9,000 rooms. The Group's development pipeline
includes two new hotels which are expected to add an additional 500
rooms by the end of 2022.
Company websites:
www.pphe.com
www.arenahospitalitygroup.com
For reservations:
www.parkplaza.com
www.artotels.com
www.arenaturist.com
For images and logos visit www.vfmii.com/parkplaza
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END
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