Raymond Bickson quits as Indian Hotels MD & CEO

MUMBAI: Indian Hotels on Thursday said managing director and chief executive Raymond Bickson has resigned and he will be replaced by Rakesh K Sarna from September 1. Sarna was previously with the Hyatt Hotels Corporation.

"Raymond Bickson, MD and CEO of the company, has expressed a desire to resign from the services of the company and pursue his professional interests elsewhere," Tata Group-controlled IHCL said in a filing to the Bombay Stock Exchange. Bickson had held the post at the Taj Group for more than a decade.

In July last year, IHCL had re-appointed him as the MD and CEO for five years. IHCL's board accepted Bickson's resignation at a meeting on Thursday. Bickson had joined the company in 2003 as executive director and chief operating officer of Taj Luxury Hotels.

Later that year he took over as MD and CEO. Under Bickson, the Taj Group adopted a segmentation strategy and launched new brands such as Vivanta by Taj, Gateway and Ginger.

At a time when international hotel chains were entering India, Bickson helmed the acquisition of The Pierre and other properties in the US at Boston and Los Angeles. Over the last few years, however, the company's international operations, which generate 40 per cent of its revenues, have been incurring losses.