Directorate Change

RNS Number : 9886N

Whitbread PLC

22 May 2015

 



RNS Number : 220105

Whitbread PLC

22 May 2015

                   

WHITBREAD PLC APPOINTS NEW CHIEF EXECUTIVE

Whitbread PLC today announces that Alison Brittain has been appointed as its next Chief Executive to succeed Andy Harrison, who has decided to retire from full time executive life at the end of February 2016.  Alison will join the Company on 4 January 2016.

Alison, aged 50, is currently Group Director, Retail Division Lloyds Banking Group PLC which she joined in 2011. Previously, she held senior roles at Santander UK PLC and Barclays PLC.  Alison is also a non executive director of Marks and Spencer Group PLC.

Whitbread Chairman, Richard Baker said

"We are delighted to have secured someone of Alison's calibre.  We ran an extensive search and selection process and Alison was the standout candidate from a very strong field.

"Alison has vast experience in successfully managing multi-site operations with leading brands.  She has a natural ability to inspire and motivate large customer-facing teams to deliver great service and her strong personal belief in the importance of putting the customer at the heart of the business makes her a perfect fit with our culture and values.  Alison also has proven experience in delivering digital online and mobile technology, business to business marketing, and managing significant property portfolios.

"Over the last five years, under Andy's leadership, Whitbread has generated substantial value by getting bigger and better.  With the announcement of our 2020 milestones we have laid out clear plans to get bigger, and Alison's arrival will ensure Whitbread continues to get even better still."

 Alison Brittain said

"I am absolutely delighted to have been chosen to lead Whitbread. I am impressed by its success and its strong, well loved brands. Its belief in focussing on customers and team members is something that is very close to my heart and I am committed to supporting and developing this even further in the future.  Whitbread has a clear strategy and I am looking forward to leading the Company as it grows and delivers for its customers, its people and its shareholders."

For Further information contact:

Investor Relations

Nicholas Cadbury, Group Finance Director [phone]

Joanne Russell, Director of Investor Relations [phone]

Media Contacts:

Anna Glover, Director of Communications [phone]

David Allchurch, Tulchan [phone]

Editors Notes

Full details of Alison Brittain's remuneration will be included in the 2015/16 Remuneration Report, however the key elements are as follows:

-    Base salary of £775,000.

-    Pension allowance of 25% salary.

-    Eligible to participate in the Directors' Incentive Scheme up to 167% of salary p.a. and in the LTIP for 200% of salary.

-    Benefits will be in line with other directors.

-    Alison will receive two LTIP grants of 175% of salary - one expiring in March 2017 and the other in March 2018 using the same performance conditions as for other directors.  There will be a two year holding period for these awards after vesting.

-    Alison will be purchasing c. £500,000 worth of Whitbread shares on joining the Company.

Whitbread PLC is the owner of the UK's favourite hotel chain, Premier Inn and the UK's favourite coffee shop, Costa, as well as restaurant brands, Beefeater, Brewers Fayre, Table Table and Taybarns.

Whitbread PLC employs 45,000 people in over 2,000* outlets across the UK, with its well-loved brands making every day experiences special for over 25 million UK customers every month.

Whitbread has outlined growth milestones for 2016, 2018 and 2020.  The 2020 milestones are to increase the number of Premier Inn UK rooms to around 85,000 and to achieve global system sales of around £2.5bn for Costa.

At Whitbread we are committed to being a force for good in the communities in which we operate. Our CR programme, 'Good Together' is focused on three pillars of Team & Communities, Customer Wellbeing and Energy & Environment.

In the year ended 26 February 2015, Whitbread PLC reported a 13.7% increase in Group Revenue to £2,608.1 million and Underlying Profit before tax of £488.1 million up 18.5%.

Whitbread PLC is listed on the London Stock Exchange and is a constituent of the FTSE 100. It is also a member of the FTSE4Good Index.

*excludes Costa Franchise stores and Costa Express

 

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