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Costa Coffee group Whitbread hires Alison Brittain as new chief executive Costa Coffee group Whitbread hires Alison Brittain as new chief executive
(about 1 hour later)
The Premier Inn and Costa Coffee group Whitbread has appointed Alison Brittain as its next chief executive, boosting the number of female CEOs at FTSE 100 companies to six.The Premier Inn and Costa Coffee group Whitbread has appointed Alison Brittain as its next chief executive, boosting the number of female CEOs at FTSE 100 companies to six.
Brittain, who is in charge of the retail division of Lloyds Bank, joins Whitbread on 4 January 2016. She will take over from Andy Harrison, who announced his retirement from full-time executive roles last month.Brittain, who is in charge of the retail division of Lloyds Bank, joins Whitbread on 4 January 2016. She will take over from Andy Harrison, who announced his retirement from full-time executive roles last month.
She will be paid a basic salary of £775,000, but once benefits and performance-related bonuses are included her package could be worth £6.4m.She will be paid a basic salary of £775,000, but once benefits and performance-related bonuses are included her package could be worth £6.4m.
Richard Baker, the Whitbread chairman, said: “We are delighted to have secured someone of Alison’s calibre. We ran an extensive search and selection process and Alison was the standout candidate from a very strong field.”Richard Baker, the Whitbread chairman, said: “We are delighted to have secured someone of Alison’s calibre. We ran an extensive search and selection process and Alison was the standout candidate from a very strong field.”
He also praised her “natural ability to inspire and motivate large customer-facing teams” and “proven experience in delivering digital online and mobile technology”.He also praised her “natural ability to inspire and motivate large customer-facing teams” and “proven experience in delivering digital online and mobile technology”.
Whitbread, which owns Premier Inns, Brewers Fayre and Costa Coffee, has seen profits soar as it capitalises on the UK’s seemingly insatiable demand for frothy coffee, as well as growth in the market for budget hotels.Whitbread, which owns Premier Inns, Brewers Fayre and Costa Coffee, has seen profits soar as it capitalises on the UK’s seemingly insatiable demand for frothy coffee, as well as growth in the market for budget hotels.
Brittain’s appointment takes her into a select group of female CEOs at the top of Britain’s biggest companies that includes Véronique Laury at Kingfisher, Liv Garfield at Severn Trent, Moya Greene at Royal Mail, Alison Cooper at Imperial Tobacco and Carolyn McCall at easyJet.Brittain’s appointment takes her into a select group of female CEOs at the top of Britain’s biggest companies that includes Véronique Laury at Kingfisher, Liv Garfield at Severn Trent, Moya Greene at Royal Mail, Alison Cooper at Imperial Tobacco and Carolyn McCall at easyJet.
However, female CEOs of FTSE 100 companies are still far outnumbered by men called John.However, female CEOs of FTSE 100 companies are still far outnumbered by men called John.
Women hold 23.5% of FTSE 100 directorships, according to the latest report from Lord Mervyn Davies, the government’s champion of gender equality in the boardroom. But progress has been slower when it comes to promoting women into the most powerful jobs in British companies – the chief executive, chief finance officer and chairmanship roles.Women hold 23.5% of FTSE 100 directorships, according to the latest report from Lord Mervyn Davies, the government’s champion of gender equality in the boardroom. But progress has been slower when it comes to promoting women into the most powerful jobs in British companies – the chief executive, chief finance officer and chairmanship roles.
Brittain, aged 50, has been called the most powerful woman in British banking. Her departure from Lloyds will come as a blow to the 20% state-owned bank, where she has been overhauling systems after a mis-selling scandal where customers were sold products they did not need. She started her current job at Lloyds in 2011, having previously held senior roles at Barclays and Santander. She is also a non-executive director at Marks & Spencer.Brittain, aged 50, has been called the most powerful woman in British banking. Her departure from Lloyds will come as a blow to the 20% state-owned bank, where she has been overhauling systems after a mis-selling scandal where customers were sold products they did not need. She started her current job at Lloyds in 2011, having previously held senior roles at Barclays and Santander. She is also a non-executive director at Marks & Spencer.
One insider described her appointment as “a fairly unanimous choice”, with her customer-focused role at Lloyds making her a natural fit. She beat off competition from external and internal candidates, including the managing director of Costa Coffee, Christopher Rogers.One insider described her appointment as “a fairly unanimous choice”, with her customer-focused role at Lloyds making her a natural fit. She beat off competition from external and internal candidates, including the managing director of Costa Coffee, Christopher Rogers.
The appointment of a career banker caused some surprise among industry watchers, but analysts at Credit Suisse described her as a “highly credible” choice: “She is a high calibre individual, [a] good communicator and engages well with investors.”
Brittain said: “I am absolutely delighted to have been chosen to lead Whitbread. I am impressed by its success and its strong, well-loved brands. Its belief in focusing on customers and team members is something that is very close to my heart and I am committed to supporting and developing this even further in the future.”Brittain said: “I am absolutely delighted to have been chosen to lead Whitbread. I am impressed by its success and its strong, well-loved brands. Its belief in focusing on customers and team members is something that is very close to my heart and I am committed to supporting and developing this even further in the future.”