Double resignation stuns M&C Hotels investors
Shares in Millennium & Copthorne Hotels were hit yesterday by news of the resignation of the company's chief executive and finance director.
John Wilson and David Thomas’ simultaneous departure was followed by a 29óp fall in M&C stock, down from 314óp to 285p. Wilson insisted the timing had been ‘unfortunate’ but that there was no link between the two men’s decisions to leave the company. The Times reported that the news had prompted speculation that M&C?s chairman and majority shareholder, Kwek Leng Beng, might take the company private.