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InterContinental Hotels Group has announced that Keith Barr has informed the board of his decision to step down from his role as Group CEO and from the IHG board.
Barr intends to return with his family to the US and his 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.
Barr will be succeeded by Elie Maalouf, a member of IHG’s board and executive committee, who has led IHG’s America’s business as regional CEO for the past eight years.
Maalouf will take up his new position on 1 July and will be based in the UK to lead the business.
Barr has been a part of IHG for more than 30 years and was appointed to the board and as CEO in July 2017.
IHG stated that Barr 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, and significantly investing in IHG’s digital capabilities and loyalty offer.
Maalouf joined IHG as Americas CEO in February 2015. Under his leadership, IHG claimed that the region’s estate has grown from approximately 3,700 hotels to more than 4,350.
He led the “delivery of record profits, oversaw the launch of new brands and formats, and strengthened how the business drives value for our hotel owners”.
Maalouf has worked in the international hospitality industry for many years and has a wide range of experience in areas including hotel development, branding, finance, real estate, operations management, as well as knowledge of food and beverage.
A process is underway to appoint a successor to Maalouf as America’s CEO.
Barr said: “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.
“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.”
Maalouf added: “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.
“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.”
