Whitbread shares fall on FTSE 100 after appointing easyJet boss as CEO

Mr Harrison, who will this year be stepping down as Chief Executive of easyJet, will join Whitbread on 1 September and will be replacing Alan Parker, who is to step down on 25 November 2010 – the date of his 64th birthday.

Anthony Habgood, Chairman of Whitbread, said, “We are delighted with this appointment. We conducted a thorough international search and selection process and had a number of high quality candidates. Andy has 14 years proven experience as a successful leader of two significant consumer facing public companies. Most recently at easyJet, he has successfully led and profitably internationalised a leading value for money brand in the highly competitive airline market. Whitbread has substantial opportunities for further growth, both in the UK and through developing our international presence. We believe that Andy’s skills and experience are ideally suited to lead Whitbread in taking advantage of these opportunities.

“Alan has made an invaluable contribution to the growth and development of Whitbread during his six years as Chief Executive. Under his leadership Whitbread has grown to become the UK’s leading hospitality company with a strong focus on value for money brands. Andy is joining a company in good health and with excellent prospects for future growth.”

Andy Harrison, said, “I am delighted to be joining Whitbread. It is the ideal next step for me. Whitbread has a great history and strong culture with an exciting future ahead. Alan and his colleagues have done an outstanding job and I look forward to working with the team to build on their achievements.”

By 14:24 shares in Whitbread were down 1.15 per cent to 1,462.00 pence per share.

A note from Credit Suisse said, “We believe Whitbread offers an attractive combination of substantial unit growth in Premier Inn and Costa, accelerated cyclical hotel recovery (helped by increased corporate spend) and like for like growth. Our current 2011 forecasts look very conservative yet are 8% above consensus.”

The group is due to release a trading statement tomorrow.