The following is a translation from Spanish released by NH Hoteles. The document was filed with the Spanish stock exchange regulator, CMNV.
Madrid, 18th February, 2011
At today´s Board Meeting, Gabriele Burgio, the CEO and Executive Chairman of NH Hoteles communicated his decision to resign from his duties as Board Member, Chairman and CEO of the Company, considering that having helped meet the group's principal Business Plan objectives approved in July 2009 in response to the economic downturn, he leaves the Company in good standing to take full advantage of the first signs of recovery, with remarkable improvement in margins, as the positive evolution of the share price shows.
Mr. Burgio’s decision will be effective from the 1st of March, following the Board´s approval and announcement of the year end Financial Statements for 2010.
Gabriele Burgio took charge of NH Hoteles in 1997 when the group had 66 hotels under management in Spain and led the Company through an intense period of development and international expansion, transforming NH Hoteles into one of the world´s leading tourism and leisure companies, with 400 hotels in 24 countries, and a key reference point for the business hotel industry in the principal cities in Europe and Latin America.
Following Mr. Burgio´s resignation and with the favourable opinion from the Nominations and Compensation Board Committee, the Board has approved the appointment of Mariano Pérez Claver as new Board Member, Chairman and CEO, effective from the 1st of March 2011.
Mariano Pérez Claver had previously occupied the role of Chairman at SOS Corporación Alimentaria, S.A. since June 2009 and brings a breadth of experience in the business and financial world to his new executive role at the Company.
