Business
Board Change
Board Change.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 7438T PPHE Hotel Group Limited 16 October 2017 \n\n \n \n \n \nPPHE Hotel Group Limited\n(\"PPHE Hotel Group\" or the \"Company\")\n \nBoard Change\n \nThe Board of PPHE Hotel Group announces that Chen Moravsky has informed the Company of his intention to step down from his executive roles of Deputy Chief Executive Officer and Chief Financial Officer of the Company in order to pursue new opportunities. The Company and Mr Moravsky have mutually agreed that this change will take effect from 31 December 2017. \nMr Moravsky will remain as a non-executive director of the Company beyond 31 December 2017. Mr Moravsky will also remain as a non-executive director of the Company's subsidiary, Arena Hospitality Group d.d.\nThe Company has commenced the process of recruiting a replacement for Mr Moravsky and will make a further announcement in due course as and when appropriate.\nCommenting on the announcement, Boris Ivesha, President & Chief Executive Officer said: \n\"On behalf of the Chairman and the Board I would like to thank Chen for his long standing contribution. He has been a strategic asset to PPHE Hotel Group for the past 16 years and has seen the Company evolve and change through each phase of its development. \n\"Chen has been instrumental in establishing the unprecedented financial position the Company is in, and we are delighted that the Board will continue to benefit from his contribution and leadership in his new role as a non-executive director and we wish him all the best in his new endeavours.\"\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ('MAR').\n \nEnquiries:\n \n\n\n\n\nPPHE Hotel Group Limited \n\n\n \n\n\n\n\nBoris Ivesha, President and Chief Executive Officer \n\n\nTel: +44 (0)20 7034 4800\n\n\n\n\nHudson Sandler Financial Public Relations\n\n\n \n\n\n\n\nWendy Baker/ Sophie Lister\n\n\nTel: +44 (0)20 7796 4133\n\n\n\n\n \nNotes to editors\n \nThe Company is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates, owns, leases, operates, franchises and develops full-service upscale, upper upscale and lifestyle hotels in major gateway cit...