Millennium & Copthorne Hotels PLC Directorate Change (3480E)
05 May 2017 - 9:02PM
UK Regulatory
TIDMMLC
RNS Number : 3480E
Millennium & Copthorne Hotels PLC
05 May 2017
For Immediate Release 5 May 2017
MILLENNIUM & COPTHORNE HOTELS PLC
LEI: 2138003EQ104LZ1JNH19
BOARD CHANGES
Millennium & Copthorne Hotels plc (the "Company") is pleased
to announce the following changes to its Board of Directors (the
"Board") and Board Committees, effective from the close of today's
annual general meeting. These changes are pursuant to the Company's
announcement of Board and senior management changes in February and
are part of the Company's ongoing commitment to refreshing the
composition of the Board and its Committees.
His Excellency Shaukat Aziz has been appointed Senior
Independent Director following the retirement from the Board of
Nicholas George, as previously announced.
Susan Farr has been appointed Chair of the Remuneration
Committee, following the retirement from the Board of the former
Chair, Alexander Waugh, as previously announced.
Gervase MacGregor has been appointed Chair of the Risk
Committee, replacing Kwek Leng Peck. Mr. MacGregor is stepping down
as a member of the Remuneration Committee, but is remaining on the
Audit Committee. Mr Kwek will continue to be a member of the Board
and the Nominations Committee.
Daniel Desbaillets has been appointed a member of the Audit,
Remuneration and Risk Committees.
Kwek Leng Beng, Chairman of the Company, said "These
appointments reflect our commitment to achieving the high standards
of corporate governance that we regard as important to success.
Refreshing the Board and its Committees are a key part of this and
the appointments of Shaukat, Sue, Gervase and Daniel will help to
ensure that high standards continue to be met. I would like to
thank Nicholas and Alexander for their contributions to the Board
and the Group over the past eight years."
The Company also announces today that following Howard Wu's
appointment to the Board as an Independent Director on 17(th)
February 2017, it has been determined that Mr. Wu's experience and
skills can be utilised most effectively in an executive capacity.
Accordingly, Mr. Wu will take up the role of Chief Technology
Officer and other senior executive duties in August 2017. As the
Board no longer deems Mr. Wu to be independent under the UK
Corporate Governance Code in light of the change in role, Mr. Wu
will step down from the Risk Committee with effect from today and
from the Board upon joining the senior executive management
team.
Mr. Kwek said, "Howard Wu's broad knowledge, experience and
expertise in the fields of e-commerce and information technology
will make very significant contributions to the executive
leadership of the Group and I am delighted that he has agreed to
take on this full time role."
A table showing the composition of the Board Committees from 5
May 2017 is set out below. Meanwhile, the Company is well advanced
in the process of selecting a new Independent Director. A further
announcement regarding this appointment and additional Committee
changes arising from it will be made in due course.
Audit Committee Nominations Remuneration Risk Committee
Committee Committee
-------- -------------------- ------------- -------------------- --------------------
Chair Gervase MacGregor Kwek Leng Susan Farr Gervase MacGregor
Beng
-------- -------------------- ------------- -------------------- --------------------
Members Susan Farr Shaukat Aziz Shaukat Aziz Kwek Eik
Daniel Desbaillets Susan Farr Daniel Desbaillets Sheng
Kwek Leng Daniel Desbaillets
Peck
-------- -------------------- ------------- -------------------- --------------------
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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