Kempinski Hotels CEO Markus Semer will leave his post as chairman and CEO once the luxury hotel management company appoints a successor. He joined 16 years ago, became deputy CEO six years ago and became chairman and CEO in March 2016. Since he joined the company, its portfolio has grown from 23 to 78 hotels—the latest in Bali, Dubai's Palm Island, Muscat and Singapore—and 21 are under development. Semer said he will begin a new job in January. In the wake of Semer's announcement, Kempinski CFO and vice chairman Colin Lubbe announced he will also leave the company as soon as Kempinski identifies a replacement for his role.