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A new CEO for Orient Express might complicate Tata's IPO

1 min reading time

Published on 29/10/12 - Updated on 17/03/22

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Financial Times reported that Orient-Express Hotels is set to announce a new CEO to replace interim CEO Philip Mengel next week. Tata Group’s offer to buy out Orient-Express Hotels could be complicated if Orient-Express moves ahead with picking a new CEO.

Indian Hotels Co. requested a meeting this week with Mengel and the Orient-Express board of directors to discuss the offer and to sweeten the deal, Indian Hotels Co. also communicated that post-buyout Orient-Express would remain a separate and independent company with standalone management and board of directors.R.K. Krishna Kumar, vice chairman of Indian Hotels Co., wrote in a letter to Orient-Express Hotels CEO Philip Mengel: “Given the urgency and the importance of the subject, Mr. Ratan Tata, Chairman of the Tata Group, and Mr. Luca Montezemolo, Chairman of Ferrari, will be happy to meet with you and your board at your earliest convenience. I am sure that as a long-standing and significant shareholder, you will extend this courtesy to us.”

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