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Queens Moat chief set to leave.

EMBATTLED hotels group Queens Moat Houses yesterday said it was to part company with its chief executive as it began a fresh review of the business.

The Romford-based group announced that Andrew Coppel will step down at the end of September after 10 years at the helm.

Queen's Moat said the change took into account the 'changing needs of the business' but did not provide further details. It is due to update investors on the outcome of the review at its half year results announcement next month.

Under Mr Coppel's tenure, Queens Moat cut debt from around pounds 1.2bn 10 years ago to pounds 639m but the group announced yesterday it was carrying out the review partly as a result of the current complex structure of that debt.

Chairman Richard Jewson said, 'We have been fortunate to have had Andrew as chief executive of QMH for the last 10 years during which he has overseen the financial restructuring of the group and has steered the business through some extremely turbulent times.'
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Title Annotation:Business
Publication:Western Mail (Cardiff, Wales)
Date:Aug 6, 2003
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