Management changes bring peace at Savoy: Sir Ewen Fergusson named new chairman of hotel group
Wednesday 14 September 1994
Sir Ewen Fergusson, former ambassador to Paris, becomes chairman of the Savoy, succeeding Sir Anthony Tuke, who will retire at the end of the year.
Martin Radcliffe, already on the board, has been appointed acting managing director until a replacement is found for Giles Shepard, who was this week asked to resign following a unilateral, public attack on Sir Michael Richardson, a non-executive director. Mr Shepard accused Sir Michael of leaking confidential information.
Observers of the long-running saga said that yesterday's announcement pointed to a management victory for Forte, the rival hotel company that has a significant equity stake in the Savoy, owner of some of Britain's best- known hotels.
Speculation about who will become managing director mainly favours Ramon Pajares, a hotelier who has worked for the Four Seasons chain. He is understood to be considering a formal offer, made by the Savoy and acceptable to Forte.
A spokeswoman for Forte, which has long had designs on acquiring the industry's prime assets, said it agreed to sanction the appointments at yesterday's board meeting.
'We are happy with the whole board agreement. We feel progress has been made,' she said.
Forte owns more than 60 per cent of the Savoy's equity but, because of the two-tier share structure, controls only 42 per cent of the votes.
Rocco Forte, chairman, and Donald Main, a fellow director at Forte, were at the Savoy meeting.
Besides yesterday's appointments, the Savoy board decided to form a three-strong chairman's committee to work closely with the new managing director. The members are Sir Ewen, Mr Forte and John Sinclair, who presides over three Savoy trusts controlling more than 30 per cent of the votes.
Forte and the Savoy trusts have also terminated talks that Forte hoped could have led to the formation of a joint-venture company. It would have incorporated some of Forte's 'Exclusive' chain of hotels, which includes the Grosvenor House and Hyde Park hotels, and the Savoy group, which includes Claridge's and the Berkeley.
View from City Road, page 25
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Why I'm on the brink of burning my Israeli passport
- 2 War is war: Why I stand with Israel
- 3 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 4 World Cup 2014: Robin van Persie appears to give his bronze medal to eccentric Netherlands fan moments after being handed it by Sepp Blatter
- 5 Iraq crisis: How Saudi Arabia helped Isis take over the north of the country
Ian Thorpe gay: Olympic swimmer comes out in Parkinson interview
Death in the Valley of the Dolls: Heroin overdose turns the spotlight on prostitution boom in California's tech industry
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Woman, 61, jailed for seven years after drink-drive death of cyclist
Gaza-Israel conflict: Pro-Palestinian demonstrators take to streets of London, Paris and New York in wave of protests
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...