Laurent Picheral has revealed he won’t seek reelection as CEO of Orbis Group. He stressed, however, that he doesn’t intend to leave the company. Instead he will be joining the executive committee at Accor, starting June 1. Picheral said he also wants to secure a spot on Accor’s supervisory board. Orbis shareholders will appoint a new CEO in June.
Investors did not respond to the news, as share price in the hotel group did not moved this morning on the Warsaw Stock Exchange.
The group’s operating profit in Poland rose in the fourth quarter of 2013 to PLN 15.52m from PLN 99m in the same period of 2012. Consolidated revenues for the company grew from PLN 156.68m in Q4 2012 to PLN 169.16m in Q4 2013.
