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Chief executive of CDL's hotel arm quits after four months

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THE group chief executive officer (CEO) of City Developments Limited's (CDL) hotel arm, Millennium & Copthorne Hotels (M&C), has resigned after four months in the position, the mainboard-listed company said on Monday evening. Read more at The Business Times.

Before taking up the CEO position, Mr Tan was managing director for South-east Asia and Korea for InterContinental Hotels Group.

He said back in March that he saw"a significant opportunity to reshape M&C's strategies and reposition the business" amid operating challenges and uncertainty brought about by the Covid-19 pandemic.and furloughed another 30 per cent of staff in its owned-and-managed hotel portfolio as the pandemic and government restriction measures hit its business.

Senior management and executives in M&C have, since April 1, also accepted salary cuts of up to 30 per cent, depending on their seniority.BT is now on Telegram!

 

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