Kurt Ritter will continue as Rezidor's President & CEO until 2012
Kurt Ritter will continue to head The Rezidor Hotel Group until February 2012.
“This decision will further fortify and ensure the continuity of a strong
leadership under which Rezidor has delivered an unparalleled growth,” says Urban
Jansson, Chairman of the Board of Directors of Rezidor. “Kurt Ritter has been
with Rezidor for 32 years including 19 years as the President & CEO. We are
proud of his achievements and happy to be able to further count on his
experience, knowledge and long term view on the business.”
Kurt Ritter's employment contract covered the period until February 2009. The
amendment extends the contract to February 2012. The terms and conditions remain
essentially the same, however with a change resulting in a potential increase in
the performance-based variable compensation. In addition, the fixed payment
equal to three years' salary and a compensation for three years' value of
housing, which was provided for in the existing contract, will be paid out in
three equal instalments over the next three years instead of in February 2009.
For further information please contact:
The Rezidor Hotel Group
Per Blixt, Senior Vice President Investor Relations & Corporate Communications,
+32 2 702 9224
Per.Blixt@Rezidor.com
About the Rezidor Hotel Group:
The Rezidor Hotel Group is one of the fastest growing hotel companies in the
world. The group features a portfolio of almost 350 hotels in operation and
under development with approximately 74,000 rooms in 53 countries.
Rezidor operates the brands Radisson SAS Hotels & Resorts, Regent Hotels &
Resorts, Park Inn and Country Inns & Suites in Europe, Middle East and Africa,
along with the goldpoints plusSM loyalty programme for frequent hotel guests.
Rezidor has signed a worldwide license agreement with the Italian fashion house
Missoni, in order to develop and operate a lifestyle hotel brand of the same
name: Hotel Missoni.
In November 2006, Rezidor was listed on the Stockholm Stock Exchange. With 42%,
Carlson Companies is the main shareholder.
The Corporate Office of the Rezidor Hotel Group is based in Brussels, Belgium.
For more information on Rezidor, visit www.rezidor.com.
