Kempinski Hotels has reached an
out-of-court settlement with former CEO Reto Wittwer, whom Kempinski sued for fraud last fall.
Kempinski in November accused Wittwer of “the pursuit of
personal greed and unlawful gain.”
“Kempinski Hotels SA states that the unfortunate
allegations made in its press statement on Nov. 2, 2015 were unfortunate and
should not have been published,” Kempinski said in a statement this week. “Both parties agreed they would put an end to these unfortunate
accusations allegations, and would refrain from any action against each other,
once the facts became clear and understood.”
Wittwer joined Kempinski as CEO in
1995 and retired in 2014.The luxury hotel company operates 73 hotels.