Business
India Hospitality Corp. Announces New CEO and COO
India Hospitality Corp. Announces New CEO and COO.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n \n India Hospitality Corp. Announces New CEO and COO\n\n Company Makes Warranty Claims\n\nLONDON, Dec. 24 -- India Hospitality Corp. (LSE: IHC or India Hospitality \nor the \"Company\") announced today that its Board of Directors has \nappointed Ravi Deol as the Company's new Chief Executive Officer and Mr. \nSandeep Vyas as the new Chief Operating Officer. Mr. Deol will replace \nRichard Foyston, formerly IHC's interim CEO. In addition, Raghavendra \nAgarwal, previously Senior Vice President of Finance for Mars Restaurants \nPrivate Limited, has been promoted to Corporate Financial Controller for \nIHC, and Tim McKinlay is no longer the Company's interim Chief Financial \nOfficer.\n\nIndia Hospitality believes that the current managerial restructuring \nprovides a long-term management solution for the Company. The composition \nof IHC's Board, including Mr. Foyston as Vice Chairman, remains unchanged. \n\nMr. Deol has received a mandate from IHC's Board of Directors, as the \nCompany's new CEO, to lead its efforts of sourcing and reinforcing its \ncapital structure in order to continue to fund the Company's growth \ninitiatives and ongoing operations. \n\n\"Despite the challenges in this current economic environment, we believe \nthat India is and will remain a global hub for hospitality and consumer \nactivity in the years to come,\" said Mr. Deol. \n\nAbout Ravi Deol and Sandeep Vyas\nRavi Deol, a well-known entrepreneur, has pioneered several consumer \nventures, including founding Barista, India's first indigenous coffee \nretail chain, which revolutionized lifestyle-driven high street \nconsumption. He was the architect and CEO of the Bharti Wal-Mart joint \nventure, which marked Bharti's entry into the retail sector. \n\nSandeep Vyas was the co-founder and executive vice-president of Barista \nCoffee and has held several leadership positions in the consumer and \nhospitality industries. Recently, as the director of worldwide operations \nfor Yum! Brands International's Pizza Hut, he led the global repositioning \nof the Pizza Hut dine-in brand. Previously, as the head of operations for \nYum! Brands' strategic business unit in India, Mr. Vyas led the re-entry \nof Yum! Brands' KFC business in that market.\n\nWarranty Claims\nIn July 2007, the Company acquired Mars Restaurants Private Limited and \nSkyGourmet Private Li...