Raymond Bickson, managing director and chief executive of Indian Hotels Company, will step down by the end of this month. He had been the MD and CEO for more than a decade at IHCL, the country’s largest hotel company.
The board of IHCL had approved Bickson’s re-appointment as a director for a period of five years at last year’s annual general meeting.
“Indian Hotels Company has informed BSE that Raymond Bickson, MD and CEO of the Company has expressed a desire to resign from the services of the Company and pursue his professional interests elsewhere”, said IHCL in a statement.
During a meeting of the Board of Directors of IHCL at its meeting held today the Board has accepted Bickson’s resignation.
Indian Hotels further informed that Rakesh K Sarna will take over and join as the Managing Director and Chief Executive Officer effective September 01, 2014.
Sarna is a hospitality industry veteran, having spent over three decades with the Hyatt Hotels Corporation in the past. His appointment was approved by the Board of Directors today.