Steigenberger CEO steps down

Steigenberger Hotels AG, Frankfurt, Germany, announced on Thursday that its CEO Arco Buijs is leaving the company “by mutual consent.”

Buijs is Steigenberger’s second CEO since Hamed El Chiaty’s Travco Group International Holding S.A.E., 6th of October City, Egypt, bought the company in 2009.

“The differing strategic views with regard to future development held by Arco Buijs and the supervisory board mean that his contract will not be extended when it falls due for renewal in the middle of the year. Buijs will leave the company at the end of February 2012,” the company said in a statement.

Matthias Heck, Steigenberger’s chief financial officer, will be appointed as interim CEO.

Arco Buijs
Arco Buijs