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Millennium hotels boss Jennifer Fox leaves after three months Millennium hotels boss Jennifer Fox leaves after three months
(about 1 hour later)
The boss of Millennium & Copthorne (M&C) Hotels has stood down three months after taking over.The boss of Millennium & Copthorne (M&C) Hotels has stood down three months after taking over.
Group chief executive Jennifer Fox and M&C "have mutually agreed" she will leave with immediate effect, the company said.Group chief executive Jennifer Fox and M&C "have mutually agreed" she will leave with immediate effect, the company said.
In a statement, M&C said chief of staff Tan Kian Seng would take over until a permanent replacement was found. It is thought there were differences of direction between the industry veteran and M&C's chairman and majority owner.
Ms Fox is a former president of Fairmont Hotels & Resorts, and spent 10 years at InterContinental Hotels. Ms Fox, who is being replaced on an interim basis by chief of staff Tan Kian Seng, will receive a £1m pay-off.
The industry veteran, who has 30 years in the hospitality industry, replaced Aloysius Lee, who had resigned in January. Ms Fox has spent 30 years in the hospitality industry, including as president of Fairmont Hotels & Resorts and 10 years with InterContinental Hotels.
M&C did not give reasons for her departure. She started work at M&C on 19 June, replacing Aloysius Lee, who had resigned in January.
M&C did not give reasons for her departure in a short statement to the London Stock Exchange.
A separate statement on M&C's website said Ms Fox would receive her contractual entitlement of a £1m pay-off.
New strategy
At the time of her appointment, Ms Fox spoke of her ambitions for the company, whose brands include Millennium, Grand Millennium, Copthorne and Kingsgate.At the time of her appointment, Ms Fox spoke of her ambitions for the company, whose brands include Millennium, Grand Millennium, Copthorne and Kingsgate.
"I see this as a significant opportunity at a time of great change in our industry," she said."I see this as a significant opportunity at a time of great change in our industry," she said.
Ms Fox, who started work at M&C on 19 June, joined at a time when M&C's revenues were under pressure from rising costs, especially at its hotels in London. But Ms Fox joined at a time when M&C's revenues were under pressure from rising costs, especially at its hotels in London.
She was working on a new strategic plan for the group, and had made two key appointments; new heads of global marketing and human resources.She was working on a new strategic plan for the group, and had made two key appointments; new heads of global marketing and human resources.
Last month, the hotel group's revenues in the first half of the year fell to £477m, compared to £485m the previous year. Group chairman Kwek Leng Beng described the results as "mixed". But it is thought that there were differences with billionaire chairman and majority owner Kwek Leng Beng.
Last year, he wanted to take M&C private, warning that terrorism scares, industry overcapacity and political uncertainty in Europe were affecting the business.
Last month, the hotel group reported that revenues in the first half of the year fell to £477m, compared to £485m the previous year. The chairman described the results as "mixed".