Markus Semer, Kempinski Hotels CEO and chairman of its management board, is stepping down from his posts. In addition, Colin Lubbe, the company's CFO and vice chairman of the management board, also is stepping down. Both executives expect to assist in a transition phase until successors are in place.
Since Semer joined the company 16 years ago, the portfolio grew from 23 hotels to 78 hotels under operation and 21 under development, with recent openings in Singapore, Dubai Palm, Muscat and Bali.
Semer has served for more than 11 years as a member of the management board of Kempinski AG and as a director of the board of Kempinski Hotels SA. In addition, he has served as deputy CEO.
The company credits him with playing "an essential role in transitioning the brand from an interregional German hotel operator to an independent, international luxury hotel management brand."
Semer noted the company closed its 2018 fiscal year ahead of its profit targets and fulfilled all strategic key performance indicator and net portfolio growth objectives.
During Lubbe’s 10 years with the company, he has served as a member of the management board of Kempinski AG and as a director of the board of Kempinski Hotels SA and for the past three years has served as vice chairman of the management board.