Leisure group Whitbread has appointed internal candidate Mr Alan Parker as its new chief executive to replace Mr David Thomas in June next year.
The firm - which runs the Marriott hotels in Britain, the Travel Inn budget hotels worldwide, David Lloyd health clubs and restaurants such as Beefeater and Brewers Fayre - is promoting Mr Parker from his post as boss of Whitbread's hotel business.
Chairman Mr John Banham said this morning that the decision by the firm's nomination committee had been unanimous.
Shares in Whitbread stood 0.6 per cent higher at 710 pence (Sterling) per share by 8.25 a.m.