New Hogg Robinson Chairman To Eye IPO

Hogg Robinson has appointed a non-executive chairman to help prepare for a possible relisting on the London Stock Exchange.

John Coombe, former chief financial officer of GlaxoSmithKline, will join the company on April 1, just two days before Hogg and its travel network rebrand themselves as HRG. The company has dropped heavy hints that it may seek an initial public offering to fund expansion while also paying out private investor Permira, which owns 70 percent of Hogg. However, Coombe said Hogg, which owns and manages almost the entire former Business Travel International network outside of the United States, is not yet committed to that course of action. "Clearly, an IPO is one of the options open to us, but no decision has been made yet," he said. "From a financial point of view, investment in the network and giving Permira an elegant exit strategy is perfectly feasible."

Coombe also holds non-executive directorships with HSBC and British retail and business services group GUS, as well as sitting on the supervisory board of Siemens. He replaces Neville Bain, who is retiring after eight years to concentrate on his chairmanship of the United Kingdom's Institute of Directors.