Travelodge chief executive quits to make way for old guard
Travelodge chief executive Guy Parsons has been ousted from his role by the Board of directors, which requested Grant Hearn return to lead the hotel chain.
Parsons, who took over from Hearn in 2010, has stepped down and will leave the company on April 20.
Hearn, who was Travelodge chief executive for seven years, during which time Keith Hamill was chariman, said the changes followed a successful capital injection into the business.
"During recent discussions regarding our financial restructuring, the Board has expressed their wish for me to lead the business once again," he said.
"Clearly, as recently has been said, there cannot be two Captains running a ship and as a result Guy has decided to leave the company".
Hamill will also resume his position as chairman from his current role as deputy chairman.
"I would like to thank Guy for the great contribution he has made over the last eight years at Travelodge," added Hearn. "Guy has been an architect of our successful growth strategy and a true innovator. He will leave behind a business which has very strong plans for improvement and growth."
Parsons said: "This is a good time for me to step down as CEO of Travelodge. I have been privileged to be the Company’s chief executive for the last two years and I am proud of all that we have achieved in that time.
"I would like to thank the management and staff of Travelodge for their support and I wish the business well for the future."
Travelodge plans to open 41 hotels this year, creating over 1,000 new jobs.
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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