Whitbread share price: Group poaches Lloyds’s executive for CEO role

on May 22, 2015
Updated: Oct 21, 2019

UK hospitality group Whitbread (LON:WTB) has named Alison Brittain, current head of Lloyds Bop’s Banking Group’s (LON:LLOY) high street banking division, as its new chief executive.

Brittain, who has been at Lloyds since 2011 after previously serving in roles at Santander and Barclays (LON:BARC), moves into the leisure sector to replace outgoing CEO Andy Harrison, who announced his surprise retirement in April citing the “relentless way of life” in a public company as the reason for his departure.
According to Whitbread’s statement, Harrison will step down at the end of February 2016, with Brittain joining the Costa coffee shops and Premier Inn hotels owner on 4 January 2016. She will receive a base salary of £775,000 plus other benefits and will also be eligible for performance related share rewards. Whitbread added that she would be purchasing £500,000 worth of the company’s shares.
Commenting on the appointment – which brings the total number of female bosses at FTSE 100 companies to six — 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.” Baker also pointed to Brittain’s experience in delivering digital online and mobile technology, business to business marketing, and managing property portfolios.
Lloyds said that Brittain would be replaced on an interim basis by David Oldfield, currently responsible for IT and operations. He in turn will be succeeded by Karin Cook, who is currently commercial banking chief operating officer. The Telegraph quoted the lender’s CEO, António Horta-Osório, as saying: “Alison has played a significant role in leading the transformation of our retail business and I thank her for her contribution. I am also delighted we have proven executives able to step up to fill the positions created by her move.”
Whitbread share dipped into the red this morning. By 09:33 BST, the stock had fallen 1.09 percent to 5,205.00p.
As of 09:56 BST, Friday, 22 May, Whitbread plc share price is 5,207.50p.

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