InterContinental Hotels Group's CFO resigns

6th Dec 2013 11:06

InterContinental Hotels Group (IHG) has announced Chief Financial Officer (CFO) Tom Singer will step down from the board and his role on January 1st, 2014.Singer will be replaced by Paul Edgecliffe-Johnson, who joined IHG in August 2004 and is currently CFO of the company's Europe and Asia, Middle East & Africa regions."I want to thank Tom for his contribution to the success of IHG as Chief Financial Officer and his role as a valued Board member during his time with us," said Chairman Patrick Cescau. "I am pleased to welcome Paul Edgecliffe-Johnson to the Board which shows the strength and depth of our management team, demonstrating our robust succession planning and our ability to promote from within."Singer leaves after two years on the board of the company which owns the Holiday Inn chain. Edgecliffe-Johnson joined IHG from PricewaterhouseCoopers where he was Senior Manager for Private Equity Tax Structuring. He previously spent seven years working within Corporate Finance at HSBC Investment Bank. Shares fell 0.37% to 1,880p at 11:19 on Friday.RD