Dillip
Rajakarier at the start of the new year will replace Bill Heinecke as group
chief executive officer of Minor International while maintaining his role as
CEO of Minor Hotels.
Heinecke,
founder of the public-listed hospitality, restaurants, and lifestyle company in
Thailand, will assume a new position as chairman of the executive management
committee while retaining his position as Chairman of the Board.
The
American entrepreneur, 70, also retains his indefatigable energy and passion, and
was quoted as saying that he is stepping up, not down, when asked about the
Rajakariers promotion.
"Dillip
has worked with me for 12 years and he is fully capable of running the
day-to-day operation of Minor international. As chairman of the Executive
Committee, I will still work daily on ensuring Minors continued success. I
believe succession planning and ensuring a smooth transition is one of the most
important roles a founder can play. As the largest shareholder in Minor
International, I take my continued role very seriously."
Rajakarier,
who joined Minor in March 2007 as vice president finance for the hotel group,
is an astute finance and investment leader, instrumental in helping Heinecke
turn Minor Hotels into anything but minor. His most notable achievement
included last years acquisition of NH Hotel Group, the largest deal to-date
for Minor Hotels and a strategic transaction. Last year, NHs profit was around
$286 million (260 million euros), it was revealed during Minor Internationals
third-quarter earnings. The chain is looking at a profit exceeding $314 million
(285 million euros) this year.
Add to
that other acquisitions that included Tivoli in Europe and Latin America;
Elewana in Africa and Oaks in Australia, all of which grew Minor into a global
hotel chain.
As
well, under his leadership, Heineckes homegrown hotel brand, Anantara, went
beyond from Thailand to Asia, the Middle East, Africa and Europe. A sister
brand, Avani, too, was created and has expanded. Minor Hotels today boasts a
portfolio of more than 520 hotels.
"It is
a huge privilege to be given the opportunity to lead Minor International," said
Rajakarier. "I am tremendously optimistic about the future of our company.
Indeed, we are moving swiftly to structure the organization for even faster
growth, to ensure we can respond to the fast-changing needs of customers around
the world in each of our business avenues."
Paying
a tribute to Heinecke, he said, "William Heineckes industry and leadership
achievements are recognized globally and the outstanding success of the company
speaks for itself. Mr. Heineckes industry insight and personal dedication have
fostered global success from the ground up, and I fully intend to build upon
the values and assets of his incredible accomplishments."
Rajakarier
will be responsible for Minor Internationals overarching strategy across all
business units, including the corporate shared services of legal, IT and
finance, as well as talent development and business culture. With a strong
focus on driving expansion, sales and profitability worldwide, he will work
closely with the Board of Directors to achieve the long-term objective of
becoming a globally recognized leader in all three of the core businesses,
hospitality, restaurants and lifestyle.
Apart
from hotels, Heinecke brought pizzas, ice-cream and burgers to Thailand and the
region in the early days of the company. Minor International is now one of
Asias largest restaurant companies with over 2,200 outlets systemwide in 26
countries under The Pizza Company, The Coffee Club, Riverside, Benihana, Thai
Express, Bonchon, Swensens, Sizzler, Dairy Queen and Burger King brands.
It is
also one of Thailands largest distributors of lifestyle brands and contract
manufacturers with brands including Anello, Bodum, Bossini, Brooks Brothers,
Charles & Keith, Esprit, Etam, Joseph Joseph, OVS, Radley, Scomadi,
Zwilling J.A. Henckels and Minor Smart Kids.
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