InterContinental Hotels (NYSE:IHG) chief executive Andrew Cosslett is leaving the company as of June 30.
Chief financial officer Richard Solomons will replace Cosslett.
The company said Solomons has worked closely with Cosslett, and the transition would not mean a change in strategy.
Also today, medical devices and supplies producer and distributor Covidien (NYSE:COV) said it has elected Jose Almeida, president of its medical devices business, to take over as president and chief executive officer when CEO Richard Meelia retire on July 1.
Almeida was also elected to the board of directors, effective July 1.
The medical devices business accounts for two-thirds of the companyís revenues, and three-quarters of its operating profit, and has increased its sales at a 9% compounded annual growth rate with Almeida at the helm.
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