Action Hotels plc
("Action Hotels" or the "Company")
Action Hotels plc, the leading owner, developer and asset manager of branded three and four-star hotels in the Middle East and Australia, announces that the Company's Chief Executive Officer, Alain Debare, has informed the Board of his decision to resign from the Company, including stepping down from his Board position.
The Company confirms that Alain has agreed to continue to perform his role as Chief Executive Officer for up to six months, in order to facilitate an orderly transition process and allow the Company's operations to continue without interruption. The Company will start a formal process to recruit for a new Chief Executive Officer and a further announcement will be made in due course.
Sheikh Mubarak A M Al-Sabah, Chairman of Action Hotels commented:
"Alain has overseen the growth of Action Hotels for the last ten years, taking it from a private company to a public company. On behalf of the Board we are grateful to Alain's extremely hard work and efforts and wish him all the best for the future."
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014 until the release of this announcement
For more information:
Action Hotels PLC
Andrew Lindley, Chief Financial Officer
Tel: +44 (0) 20 7907 9663
WH Ireland Limited
Tel: +44 (0) 20 7220 1666
This information is provided by RNS