Whitbread PLC is looking for a new chairman, it has been reported.
According to The Times, the Costa Coffee operator is believed to be looking for a successor to Anthony Habgood, chairman of the company for nine years.
When contacted, Whitbread refused to comment.
Also reported by Sky News, it is rumoured that Habgood will step down in June next year. Speculation currently surrounds whether his successor will be chosen from the company’s current non-executives.
The company’s interim results for the six months to 29 August 2013, published last month, showed that Costa Coffee had seen a 20.5% rise in underlying profit to £43.5m, up from £36.1m.
Sales at Costa had also increased by 20.9%, worldwide system sales were up by 19.5% and like-for-like (LFL) sales were up 5.5%.
Overall for Whitbread, total revenue was up by 12.4% to £1.14bn, up from £1.01bn and group sales increased by 2.8%.
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