Directorate Change
Non-Executive Chairman Eli Papouchado steps down pending HR claim outcome; Ken Bradley appointed successor.
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PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, announces that Mr Eli Papouchado has decided to step aside from his role as Non-Executive Chairman and Director of the Board with immediate effect. Ken Bradley (currently Non-Executive Deputy Chairman) has been appointed as successor.
Mr Papouchado has taken this decision pending the outcome of an HR-related claim against him by an employee of a company outside of the PPHE Hotel Group but which also names the Group as co-respondents. Mr Papouchado strenuously refutes this claim and is contesting it.
Mr Papouchado, a founder of the Group, has held the role of Chairman since its formation in 1989. Over this period, he has played an instrumental role in both the Group's growth and development, and the expansion of the Park Plaza and art'otel brands across Europe.
Given the context of the current claim, the Group is limited in what further information it can provide at this time. A further announcement will be made as and when appropriate.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.