Norgani, the fifth largest hotel owner in Europe and the dominant player in Scandinavia, has shed its CEO Kjell Sagstad in a difference in opinion over strategy.
The company more than doubled in size under Sagstad growing from 35 hotels to 72 but it was now “entering a new phase”.
In a statement, the company said: “After a period of expansion it is not unnatural that disagreement should arise in relation to future strategy.”
Sagstad, the first employee in Norgani, said: “The board and I have differing views about [the company’s] strategy and continued development.” His role is to be undertaken temporarily by Eva Eriksson who has been appointed acting president. She was previously chief investment officer. A recruitment process for a new CEO is to be put in place.