Latest news with #AdamCrozier
Daily Mail
27-05-2025
- Business
- Daily Mail
Premier Inn owner Whitbread appoints Severn Trent boss as new chairwoman
Premier Inn owner Whitbread said the chairwoman of water company Severn Trent will replace Adam Crozier as its next chair. Sky News reported earlier this month that Christine Hodgson was the preferred candidate to succeed Crozier, who has chaired Whitbread for the past seven years. Hodgson became chair of Severn Trent in 2020 after spending over two decades at information technology group Capgemini, where she was chief financial officer and executive chair. She has also been a non-executive director of banking giant Standard Chartered and betting firm Ladbrokes. During her tenure at Severn Trent, the company became the first FTSE 100 group to have women holding the positions of chief executive, chair and chief financial officer at the same time. However, it has come under intense scrutiny over its environmental record, just like the rest of Britain's water industry. The Environmental Agency fined Severn over £2million in 2024 for illegally spilling around 260 million litres of sewage into the River Trent. That came three years after the group was slapped with a £1.5million fine for illegal discharges from four of its treatment works in Worcestershire between February and August 2018. Severn Trent has committed £15billion over the coming five years towards improving infrastructure while keeping water bills the second-lowest in England. Richard Gillingwater, senior independent director at Whitbread, remarked: 'We have conducted a thorough process, and it was evident that Christine will be an outstanding successor to Adam. 'Christine's experience working with high-profile consumer and technology businesses will be hugely valuable over the coming years.' Under Crozier, Whitbread struggled through the Covid-19 pandemic as stringent travel restrictions wrecked demand for hotel stays but saw trade recover following the end of lockdown curbs. The London-based firm is undertaking a £500million investment that includes plans to operate 98,000 hotel rooms by 2030, partly by converting some restaurants into accommodation. In the year to 27 February, Whitbread's pre-tax profits declined by 19 per cent to £368million following the closure of several underperforming branded restaurants. Yet the company declared it was on track to score at least £300million in extra adjusted pre-tax profits by 2030. 'It has been a privilege to lead the Whitbread board through this period of growth and change,' said Crozier. 'I'm proud that as I leave the business, we are on course for Premier Inn to become Europe's number one budget hotel business.' The Scottish-born boss has an extensive corporate career, having previously been chief executive at ITV, the Royal Mail, the Football Association, and Saatchi & Saatchi. Whitbread shares were 1.4 per cent higher at £28.37 on Tuesday morning but remain around 5 per cent down since the year started.
Zawya
27-05-2025
- Business
- Zawya
Premier Inn owner Whitbread appoints Christine Hodgson as chair
Premier Inn owner Whitbread on Tuesday said it has appointed Christine Hodgson, the current chair of British water utility Severn Trent, as its new chair, effective September 1. Hodgson succeeds Adam Crozier who will step down as Whitbread chair after seven years. (Reporting by Anandita Mehrotra in Bengaluru; Editing by Eileen Soreng)
The Independent
27-05-2025
- Business
- The Independent
Premier Inn owner appoints Severn Trent boss as new chairwoman
Premier Inn owner Whitbread has named Christine Hodgson, who is also at the helm of Severn Trent, as its new chairwoman. Ms Hodgson will join the FTSE 100 company on September 1, it said on Tuesday, replacing current chairman Adam Crozier, who has been in post since 2018. She has been working as chairwoman of water giant Severn Trent since 2020, overseeing its recent decision to hike consumer bills by an average 47% over the next five years. Ms Hodgson's appointment comes after the hospitality giant revealed a drop in profits on the back of recent restaurant closures and softening demand for hotel rooms in the UK. The company, which also owns Beefeater restaurants, said earlier in May that profits fell by 14% in the year to February, compared with the previous year. It said this was partly driven by the impact of a growth strategy that Whitbread started last April, which includes an overhaul of its restaurant business. The £500 million plan, which executives dubbed 'Accelerating Growth', involved converting 112 branded restaurants and selling 126 more. Ms Hodgson said on Tuesday: 'It's an exciting time to be joining, as the company continues to deliver on its five-year plan, and Premier Inn's expansion in Germany gathers pace.' The company hopes this will help it build about 3,500 extra hotel rooms, eventually reaching 97,000 rooms in total. Richard Gillingwater, a senior independent director who led the selection process, said her 'experience working with high-profile consumer and technology businesses' would be valuable to Whitbread. Mr Crozier said: 'It has been a privilege to lead the Whitbread board through this period of growth and change. 'I'm proud that as I leave the business, we are on course for Premier Inn to become Europe's number one budget hotel business.'
Reuters
27-05-2025
- Business
- Reuters
Premier Inn owner Whitbread appoints Christine Hodgson as chair
May 27 (Reuters) - Premier Inn owner Whitbread (WTB.L), opens new tab on Tuesday said it has appointed Christine Hodgson, the current chair of British water utility Severn Trent (SVT.L), opens new tab, as its new chair, effective September 1. Hodgson succeeds Adam Crozier who will step down as Whitbread chair after seven years.
Sky News
08-05-2025
- Business
- Sky News
Whitbread to name Severn Trent's Hodgson as new chair
The chair of Severn Trent, the FTSE-100 water company, is to add to her portfolio of directorships by taking the helm of Whitbread, the Premier Inn-owner. Sky News has learnt that Christine Hodgson has been selected as the preferred candidate to replace Adam Crozier as Whitbread's chairman. City sources said her appointment could be announced as early as next week. Ms Hodgson is said to have seen off competition for the post from Andrew Martin, chair of the testing and inspection group Intertek. Mr Crozier, who has chaired the leisure group since 2018, is expected to step down later this year. Ms Hodgson has some experience of the leisure industry, having served on the board of Ladbrokes Coral Group until 2017. Under Mr Crozier's stewardship, Whitbread has been radically reshaped, selling its Costa Coffee subsidiary to The Coca-Cola Company in 2019 for nearly £4bn. The company has also seen off an activist campaign spearheaded by Elliott Advisers, while Mr Crozier orchestrated the appointment of Dominic Paul, its chief executive, following Alison Brittain's retirement. It said last year that it sees potential to grow the Premier Inn network from 86,000 UK bedrooms to 125,000 over the next decade or so. The company has also been exploring the sale of some of its pub and restaurant operations. On Thursday, shares in Whitbread were trading at around £28.41, giving the company a market capitalisation of about £4.8bn.
