News: Millennium & Copthorne CEO quits


Millennium & Copthorne CEO quits

Veteran hotelier Clarence Tan has stepped down four months into the role, leaving the UK-based hotel chain CEO-less yet again.
Millennium & Copthorne CEO quits

Clarence Tan, the CEO of Millennium & Copthorne Hotels, is stepping down after less than half a year in the position. In an announcement on the evening of July 20, City Developments Limited, the owner of Millennium & Copthorne, said that Tan will be leaving on August 2, exactly four months after his appointment on April 2. According to the statement, he is resigning to spend more time with his family but remains open to opportunities.

Tan, a veteran hotelier, was formerly Managing Director for Intercontinental Hotels Group in Southeast Asia and Korea. He was the first CEO appointed to head Millennium & Copthorne after its privatization in October 2019—prior to that, the UK-based hotel chain had had no dedicated CEO since the last CEO, Jennifer Fox, left in September 2018 after just three months in the job.

Millennium & Copthorne had not been doing well even before COVID-19 hit the hospitality industry, with Brexit and the trade war taking their toll. When Tan took the position in April, he was expected to lead the turnaround of the shaky business through COVID-19's disproportionate impact on the hospitality industry. However, he ended up overseeing management salary cuts of up to 30 percent, followed by layoffs and furloughs in May.

Clarence Tan's replacement has not been confirmed. During the hotel chain's previous hiatus without a dedicated CEO, its chief of staff, Tan Kian Seng, served as interim CEO.

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Topics: C-Suite

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