The Rezidor Hotel Group has announced Kurt Ritter is to retire from his position as Chief Executive Officer at the end of 2012. Ritter, 65, has been in the role of CEO of the Rezidor Hotel Group for 23 years and worked for the group for 35 years in total.
From the 1st January 2013, Kurt Ritter will be replaced by Wolfgang M. Neumann, currently Executive Vice President & Chief Operating Officer. Having served as President and CEO for Rezidor since 1989, Kurt Ritter oversaw the creation of the Radisson SAS in 1994, the development of the lifestyle brand Hotel Missoni in 2005, and most recently the forming of a strategic alliance with Regent Hotels & Resorts earlier this month. Ritter will continue to act as advisor during a three-month transition period from January next year and will subsequently serve as a key strategic advisor to Trudy Rautio, Chairman of Rezidor’s Board of Directors and President and CEO of Carlson.Mr Neumann takes over a portfolio of more than 430 Rezidor hotels in operation and in the pipeline, representing 95,000 rooms across Europe, the Middle East and Africa. He commented: “I am honoured to succeed Kurt Ritter, and look forward to leading Rezidor in our ambitious Route 2015 strategy.” Through the Route 25 programme Rezidor hopes to increase its EBITDA margin by 6 to 8% by 2015 through strategic partnerships, cost-saving initiatives, accelerated asset management programmes and expansion of its hotel portfolio.Prior to joining Rezidor, Wolfgang M. Neumann, 50, acted as Chief Executive Officer for Arabella Hospitality Group in Munich and has also worked with Hilton Hotels & Resorts for over 20 years, serving as President for the United Kingdom and Ireland, and President for Europe and Africa.
