LONDON -- Le Meridien Hotels & Resorts, citing "an increasingly
difficult global travel market," shuffled the ranks of top
management.
Juergen "JB" Bartels, who became chief executive of the global
luxury hotel group in 2001, was moved to a joint chairman post,
which he'll share with Guy Hands of Terra Firma Capital Partners,
the majority investor in the hotel group.
The new chief executive is Stephen Alexander, who was deputy
chairman, and joined Terra Firma in September.
President and chief operating officer Richard Mahoney is
rejoining his family in the U.S., Le Meridien said, and his
position will not be filled.
"With the continued downturn in the world's travel industry and
its dramatic impact on the hotel sector, we decided it was an
appropriate time to further strengthen Le Meridien's senior
management team," Alexander said.