IHG's corporate CFO to step down at end of year

InterContinental Hotels Group chief financial officer Tom Singer is to step down from the Board and his role from January 1, 2014.

Singer will be succeeded by Paul Edgecliffe-Johnson, who joined IHG in August 2004 and has held a number of senior positions, most recently as chief financial officer of IHG’s Europe and Asia, Middle East & Africa regions. Edgecliffe-Johnson l will take up his new position and become a member of IHG’s Board and Executive Committee on January 1, 2014.

Speaking about the change IHG Chairman Patrick Cescau said: “I want to thank Tom for his contribution to the success of IHG as chief financial officer and his role as a valued Board member during his time with us. I am pleased to welcome Paul Edgecliffe-Johnson to the Board which shows the strength and depth of our management team, demonstrating our robust succession planning and our ability to promote from within.”

Singer first joined IHG’s Executive Committee and main Board in September 2011. From May 2008, he was group finance director and a main Board member at BUPA, a leading provider of private health care insurance and health care services. Prior to joining BUPA, Tom was with William Hill for five years, first as group finance director and then as chief operating officer. While there he took the private equity-owned business public. He has also been finance director and a main board director at Moss Bros PLC and has held managerial positions with McKinsey & Company, where he spent five years and Price Waterhouse working in both London and New York.

IHG chief executive officer Richard Solomons commented: “Tom has been a strong support to me and to the business as we have continued to execute our asset light strategy and drive superior returns for shareholders. Tom has played a key role in supporting our financial success and I wish him the very best for the future.

Paul brings a breadth of experience across a number of senior roles at IHG and has a proven track record of delivering excellent results. I look forward to working with him in his new role.”

Edgecliffe-Johnson is currently chief financial officer of IHG’s Europe and Asia, Middle East & Africa regions, a position he has held since September 2011. He is a member of the Regional Operating Committees in both regions.

He joined IHG in August 2004 and has since held a number of senior level finance positions including head of investor relations, head of global corporate finance, financial planning & tax and chief financial officer, Europe, Middle East & Africa and Head of Hotel Development, Europe. He also acted as Interim CEO of Europe, Middle East and Africa.

Edgecliffe-Johnson joined IHG from PricewaterhouseCoopers where he was senior manager for Private Equity Tax Structuring. He previously spent 7 years working within Corporate Finance at HSBC Investment Bank. Whilst at HSBC, Paul advised a wide range of multinational companies on equity and debt fund raisings, mergers and acquisitions and joint ventures.