InterContinental Hotels Group CEO Andrew Cosslett will leave
his position at the end of June and will be replaced by IHG CFO and head of
commercial development Richard Solomons, the company announced on Wednesday.
Cosslett has acted as CEO since February 2005, when he
joined the company from Cadbury Schweppes. The decision to step down was Cosslett's,
according to IHG chairman David Webster. Solomons has worked at IHG since 1992
and has served on IHG's board since 2003. He also previously led IHG's Americas
division.
Cosslett said he is leaving
IHG with "a powerful portfolio of brands, including a now fully
rejuvenated Holiday Inn, and established leading positions in the biggest and
fastest-growing markets of the world, including China."