Whitbread has turned to the finance industry for its new chief executive officer with the appointment of Alison Brittain, head of Lloyds Banking Group's retail division.
Brittain (50) is one of the most high-profile female executives in UK finance after almost five years overseeing the Lloyds Bank, Halifax and Bank of Scotland consumer operations. She will join a small group of five other women running companies in the UK’s FTSE 100 Index.
The Lloyds director will replace Andy Harrison, who is stepping down in February as chief executive of Whitbread, owner of the Costa coffee chain and Premier Inn hotels.
Mr Harrison (58) will be a tough act to follow, as Whitbread’s share price has more than tripled since he started as chief executive in 2010. The company has raised its dividend in each year of his leadership and last month reported a 19 per cent increase in full-year underlying pretax profit. Under Ms Brittain’s watch, Lloyds has cut jobs and is investing £1 billion over the next three years to improve its digital operations.
“We are delighted to have secured someone of Alison’s calibre,” Whitbread chairman Richard Baker said. “Alison has vast experience in successfully managing multi-site operations with leading brands.” Whitbread shares fell 30 pence, or 0.6 per cent, to 5,230 pence in early London trade. – (Bloomberg)
