Keith Barr has decided to step down from his role as
IHG’s Chief Executive
Officer and from the IHG Board.
Keith’s final day as CEO will be 30 June, after
which he will remain available to support and advise the business
until the end of 2023.
Keith will be succeeded by Elie
Maalouf, a member of IHG’s Board and Executive Committee, who has
led IHG’s Americas business as regional CEO for the past eight
years. Elie will take up his new position on 1 July and will be
based in the UK to lead the business.
Keith has been a part
of IHG for more than 30 years and was appointed to the Board and
as CEO in July 2017. Executing a clear strategy, he has
transformed IHG to position the company for long-term sustainable
growth, surpassing 6,000 open hotels, broadening the portfolio
with the addition of seven brands in six years, significantly
investing in IHG’s digital capabilities and loyalty offer,
embarking on a 10-year responsible business strategy, and
progressing in key areas of DE&I.
During Keith’s tenure, IHG has
also successfully navigated a global pandemic and continued to
grow its footprint and reputation with key stakeholders around the
world.
“I feel incredibly privileged to have spent three
decades as part of IHG, working alongside the many talented
colleagues that make it such a special company, and in partnership
with our hotel owners who share our passion for hospitality. I
have been lucky enough to experience this in multiple countries
over the years and to have spent the last six as CEO has been an
honour,” Mr. Barr said. “ After a long time living abroad, now is
the right time for me and my family to return to the US. I am
proud of the strong position that IHG is in today, thanks to the
investments we have made to transform every aspect of our
business, deliver for our guests and owners, and grow and operate
our brands in the right way around the world. I’m excited for what
lies ahead for IHG and having worked so closely together, to see
Elie lead the business and build on all he has achieved in the
Americas.”
Elie joined IHG as Americas CEO in February 2015.
Under his leadership, the region’s estate has grown from
approximately 3,700 hotels to more than 4,350.
Elie led the
delivery of record profits, oversaw the launch of new brands and
formats, and strengthened how the business drives value for
hotel owners.
He has spent several decades in the global
hospitality sector and has a breadth of experience spanning hotel
development, branding, finance, real estate and operations
management, as well as food and beverage expertise, with a strong
track record of delivering exceptional results.
Elie has lived and
worked internationally including in Europe, the Middle East, North
Africa and the USA, and speaks four languages.
“I am extremely proud to be appointed
CEO of one of the world’s leading hotel companies and excited to
work with our talented teams and owners around the world on what
will be an important new chapter for IHG,” said Mr. Maalouf. “Working closely with
Keith and as an Executive Committee, we’ve made a number of
critical strategic investments in recent years that position us
with exciting opportunities to realise IHG’s full industry leading
potential, by driving the performance and growth of our fantastic
brands and delivering strong returns for all our stakeholders.”
To support
Elie and Chief Financial Officer Michael Glover and to help ensure
a smooth transition, Keith will remain available to the business
over the rest of 2023. A process is already underway to appoint a
successor to Elie as Americas CEO.
Deanna
Oppenheimer, Chair of IHG, said, “It has been a pleasure to
work with Keith, and on behalf of the Board and our colleagues I
want to thank him for his successful leadership of IHG and
congratulate him on his remarkable contribution. Starting in our
hotels in the US before moving into corporate roles that have seen
him work across international markets, Keith has used all his
experience to lead a true transformation of IHG in his six years
as CEO. He has rallied a business around a clear strategy with
hotel owners and guests at its heart, strengthened IHG’s
enterprise platform, and placed the business on a path to
long-term sustainable growth and to continue an excellent track
record of shareholder value creation. He has achieved this with
great warmth and personality – not least during the depths of the
pandemic – and we wish him the very best for the future.
Succession planning has been a hallmark of the business for many
years and Elie’s appointment is the result of a rigorous process
and a commitment to invest in the development of our leaders, as
was the case when Keith became CEO in 2017. Elie has been an
instrumental part of our business in his eight years running our
largest operating region and as a member of the Board since 2018.
His significant industry experience and deep understanding of our
business makes him extremely well placed to take on the role of
CEO and ensure we continue to progress and execute against our
successful strategy. The Board and I look forward to working with
him in his new position.”
