INTERCONTINENTAL HOTELS GROUP, the world’s largest hotelier, announced Friday that its chief financial officer Tom Singer is stepping down.
Singer, who joined the company in September 2011, will be replaced on 1 January by Paul Edgecliffe-Johnson, the group’s finance chief for Europe, Asia, the Middle East and Africa.
“Tom has been a strong support to me and to the business as we have continued to execute our asset light strategy and drive superior returns for shareholders,” said Richard Solomons, chief executive officer of IHG.
Singer joined IHG from private health care insurer BUPA, having previously served as the finance chief at William Hill and Moss Bros. He is stepping down for personal reasons, a IHG spokesperson said.
Edgecliffe-Johnson joined IHG in August 2004 and has since held a number of senior level finance positions including head of investor relations, head of global corporate finance, financial planning & tax and head of hotel development, Europe. He also acted as interim CEO of Europe, Middle East and Africa.
“I am pleased to welcome Paul Edgecliffe-Johnson to the Board which shows the strength and depth of our management team, demonstrating our robust succession planning and our ability to promote from within,” said Patrick Cescau, chairman of IHG.
Edgecliffe-Johnson joined IHG from PwC, where he was senior manager for private equity tax structuring. He is a fellow of the ICAEW.