Reiterating that it has a sound strategy in place, Belmond Ltd. on Monday named board member and former Starwood executive Roeland Vos as its new president and CEO, succeeding John Scott, who resigned by mutual agreement with the board of directors. Vos will remain on the board.
During a Monday webcast announcing the news, Belmond Chairman of the Board Roland Hernandez didn’t mince his words about the necessity to make a change at the top. “The board absolutely lost confidence in leadership’s ability to execute forward,” he said. “We lost confidence in John Scott’s ability to take us to the next level. It wasn’t a flaw in the strategic plan.”
Hernandez later added, “With Roeland we are now ositioned by having a CEO having the experience necessary to help this company achieve its immediate and long-term strategic objectives.”
“I am excited by the tremendous amount of untapped potential,” Vos said in a statement. “I look forward to continuing to work with the Board and Belmond’s management team to execute on our strategic plan and drive long-term shareholder value. Having worked with the executive team as a Belmond director, I have first-hand appreciation of the strength of Belmond’s global operating leadership. In keeping with Belmond’s long-term strategy, together we will focus on disciplined capital allocation, reinvesting in our properties, increasing the number of third party management contracts, and developing the Belmond brand as we drive top-line growth and profitability.”
Scott had been with Belmond since November 2012 and Hernandez did credit him with leading the rebranding effort, reinvesting in and rationalizing the portfolio, reducing costs and developing the growth strategy that includes third-party management development.