May 15, 2012
to Remain Chairman of the Board
Search for Permanent CEO Continues
Orient-Express Hotels Ltd. (NYSE: OEH,
om) today announced that Board member
Philip R. Mengel
has been named Interim Chief Executive Officer while the Board continues its search for a permanent CEO. J. Robert "Bob" Lovejoy, who has been serving as Interim CEO since
, will remain Chairman of the Board.
Mr. Mengel said, "On behalf of the entire Board, I would like to express how grateful we are to
for his willingness to wear two hats as Interim CEO and Chairman of the Board over the past 10 months. The Board's decision to combine the roles of the Chairman and Interim CEO was always intended to be a temporary one. The search has taken longer than we had originally anticipated when Bob agreed to serve as Interim CEO in addition to Chairman, and we have now decided once again to separate these two roles. As we continue to work diligently to identify the ideal candidate with the unique skill set necessary to lead Orient-Express, I am pleased to step in to the Interim CEO role."
Mr. Lovejoy said, "I have truly enjoyed serving as Interim CEO, but the two roles added up to a heavy workload, and I appreciate the Board's understanding of my decision to focus on my role as Chairman. I know Orient-Express will be in excellent hands with Philip at the helm in the coming months, supported by our outstanding management team, as we continue our search for a permanent CEO. Having served as Chairman of the Board's Audit Committee for the past year, Philip has a deep understanding of our business, as well as many years of senior executive experience, which will enable him to hit the ground running."