HONG KONG -- The operator of the luxury Peninsula Hotels chain has switched its CEO for the first time in over two decades and shuffled its top management, offering glimpses of its succession plan. Michael Kadoorie, the 83-year-old chairman and third-generation scion, nevertheless said on Wednesday that he is eager to stay on for now.
At Hongkong and Shanghai Hotels' annual general meeting, held at the company's flagship Peninsula Hotel in Hong Kong, Kadoorie went through a list of management changes over the past year. It included Benjamin Vuchot, who became CEO on March 3 after predecessor Clement Kwok stepped down at the end of October, having spent 22 years in the position.
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