Kempinski Announces CEO Transition

Europe's oldest luxury hotel group Kempinski Hotels announces today the appointment of Bernold Schroeder as Chairman of the Management Board and Chief Executive Officer ad interim, effective immediately. The news follows the decision of the Kempinski Supervisory Board to part ways with former Chief Executive Officer Martin R. Smura.

Commenting on the appointment of Bernold Schroeder as CEO ad interim, His Excellency Abdulla H. Saif, Chairman of the Supervisory Board of Kempinski AG, says "The Supervisory Board is confident that, thanks to his in-depth asset management know-how, sense of urgency and his sensibility to quality and craftsmanship, Bernold Schroeder will successfully drive the company forward. Since he arrived in 2017, he has been a key player in Kempinski's strategy and growth, leading the Region Europe as Regional COO as well as being a highly committed Member of the Management Board of Kempinski AG and Vice-Chairman of the Management Board of Kempinski Hotels SA. We are grateful that Mr. Schroeder has agreed to step into his role during these challenging times for the hospitality industry and to build the new phase of the company."

In his new tenure, Mr. Schroeder will seek additional opportunities to achieve improved profitability, sustainable company performance and growth in the long run. Together with the Members of the Management Board, he will enhance the company's strategy to deliver the brand promise to Kempinski guests, owners and employees and propel the company to further success.

With this news, the Supervisory Board also reaffirms its long-term commitment to strengthening Kempinski positioning as an independent international hotel luxury brand as well as strong and trusted business partner. The company is now well positioned to consolidate its strategy, and to pursue its long-term growth plans through new routes, always putting Kempinski core values of trust, business ethics and integrity at the forefront.