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Management changes at Le Méridien
Hotels group, Le Méridien Hotels & Resorts, has announced changes to its senior management line-up in a bid to overcome the current economic and global problems affecting the industry.
Heading the new team will be former deputy chair, Stephen Alexander, who now becomes chief executive officer.
Joint chairmen will be Juergen Bartels, former CEO at Le Méridien and Guy Hands of investment management company, Terra Firma Capital Partners.
Finlay McFadyen is appointed as senior vice president corporate development and Sue Wright joins as senior vice president human resources.
Having been at Japanese investment bank Nomura when it bought Le Méridien from Compass for nearly £2bn in 2001, Hands left to set up Terra Firma, which still manages Nomura's investment in the hotel group.
Alexander joined Terra Firma in September last year and was subsequently appointed to the post of deputy chairman at Le Méridien.
Both McFadyen and Wright also come from Terra Firma, McFadyen having been on the board of Le Méridien since 2001.
Of the changes, Alexander said: With the continued downturn in the world's travel industry and its dramatic impact on the hotel sector, we decided it was an appropriate time to further strengthen Le Méridien's senior management team.
Former president and CEO, Richard Mahoney, whose position is not being replaced, will be leaving the company to return to the US, having made the personal choice to rejoin his family.
Le Méridien Hotels & Resorts operates over 140 hotels in 55 countries worldwide. Details: www.lemeridien.com