Gabriele Burgio, president and CEO of NH Hoteles, is to step down, effective 1 March, amid rumours that he was ousted by shareholder Caja Madrid.
According to a submission to Spain’s National Securities Market Commission, Burgio’s decision was made after having achieved the objectives set out in the business plan agreed in 2009 to address the impact of the downturn. Burgio has lead the company since 1997.
See the full release here: (Spanish)
See the full story here: