Millennium & Copthorne Hotels Seeks Stability, Long-Term Growth Under New CEO
Skift Take
It's miserable for every hotel CEO these days. But this one is extra tough. Former InterContinental Hotels Group's senior executive, Clarence Tan, has just signed up as the first group CEO of a privatized Millennium & Copthorne Hotels.
Nobody envies the job of a CEO these days, but Clarence Tan, who will take up the group CEO position at newly-privatized Millennium & Copthone Hotels starting April 2, is set for a tougher ride.
Singapore-based City Developments, which now owns the hospitality subsidiary wholly, announced his appointment on Monday. Millennium & Copthorne was delisted from the London Stock Exchange last October, after a protracted two-year battle between City Developments and smaller shareholders to take the company private.
The chain's last CEO, Jennifer Fox, lasted all of three months in the job. Since her departure in September 2018, there has been no dedicated CEO, with the chain overseen an interim CEO, Tan Kian Seng. Two other directors, Sue Farr and Gervase MacGregor, also left in the latter half of 2018.
Business has not been going too well since 2018, blamed on the trade war, Brexit, increasi
