M&C chief executive departs after three months

Jennifer Fox has stepped down from her role as chief executive of Millennium & Copthorne Hotels after just over three months in the positon. She has been replaced on an interim basis by Tan Kian Seng, the hotel chain’s group chief of staff. Fox began as chief executive on 19 June . Millennium & Copthorne Hotels board did not give a reason for Fox’s departure in its statement to the London Stock Exchange, but in a separate statement said she would receive a £1m pay-off. Her previous roles have included three years as president at Fairmont Hotels & Resorts overseeing the luxury hotel brand’s global hotel portfolio and more than six years as IHG’s chief operating officer for Europe. Last month M&C reported a fall in revenue for the first half of its financial year to £477m, down from £485m the previous year, but a slight increase in pre-tax profit to £65m. In the results statement, Fox said she saw “opportunity to strengthen the company and drive results for our shareholders,” adding that a strategic plan was being developed. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette