Whitbread finance director to take up CFO role at IAG
By Iain Gilbert
Date: Friday 15 Oct 2021
(Sharecast News) - Premier Inn owner Whitbread revealed on Friday that long-time finance director Nicholas Cadbury will be leaving the group after nine years to take up the position of chief financial officer at International Airlines Group.
Cadbury will step down as executive director and finance director to join the British Airways parent company in Spring 2022, with a process to determine a successor already underway, in line with Whitbread's succession planning.
He will work with Whitbread's CEO, Alison Brittain, and the group's board in order to ensure an orderly transition.
Brittain said "Nicholas has been our finance director for the last nine years and has done a tremendous job. Nicholas has been instrumental in ensuring that Whitbread emerges from the Covid pandemic in a very strong financial position, that will enable us to continue to grow and to deliver our strategy.
"I have thoroughly enjoyed working with Nicholas and would like to take this opportunity to express my personal thanks to him for all his hard work and dedication over many years and to wish him all the very best for the future."
As of 1300 BST, Whitbread shares were up 0.68% at 3,336.0p and IAG shares were 2.08% higher at 180.84p.
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