Geneva, 13 March 2019 – Kempinski AG, Munich and Kempinski Hotels SA, Geneva announced today that Markus Semer will not extend his mandate as Chairman of the Management Board & CEO. In order to ensure a continued successful management of the Kempinski Group, Markus Semer has been asked and he has accepted to extend his mandate during the transition until a successor is recruited and appointed.
Kempinski also announced today that following Markus Semer’s decision to leave Kempinski for a new assignment as of next year, Colin Lubbe will not prolong his mandate as CFO and Vice Chairman of the Management Board. Colin Lubbe has been asked and has accepted to extend his mandate until a CFO is recruited and appointed.

Since Markus Semer joined the company 16 years ago, the portfolio grew from 23 hotels to 78 hotels under operation and 21 under development today with the latest landmark openings in Singapore, Dubai Palm, Muscat and Bali. During his time with Kempinski, Markus Semer has served for over 11 years as a Member of the Management Board of Kempinski AG and as a Director of the Board of Kempinski Hotels SA. In addition, for the past six years he has served as Deputy CEO and subsequently as Chairman of the Management Board & CEO. Markus Semer is credited with having played an essential role in transitioning the brand from an interregional German hotel operator to an independent international luxury hotel management brand.

Chairman of Kempinski AG, H.E. Abdulla H. Saif: “On behalf of the Supervisory Board, I would like to sincerely thank Markus Semer for his invaluable involvement and dedication to the Kempinski Group over the last 16 years and over the last three years as CEO for having successfully repositioned and succeeded in making the company profitable by setting a financially sound strategy with an achieved sustainable net portfolio growth. Kempinski, which is celebrating its 122nd anniversary this year, has never been stronger and more competitive as an independent international hotel luxury brand, and we owe Markus Semer and the team our appreciation for this remarkable achievement. We would also like to thank him for having accepted in the interest of the company to extend his mandate during this transition period thus allowing the Board to recruit and appoint a successor in a transparent and coordinated manner. We wish him all the best for his new professional assignment as of next year.”

Markus Semer: “Over the last 16 years Kempinski was not only a job but also a true passion and matter of the heart and I am very grateful for having been given such a unique career opportunity. We are closing the business year 2018 with again overachieving our profit targets and having fulfilled all strategic KPI’s and net portfolio growth objectives. I leave with my mind at ease knowing that together with my colleagues, we were able to prove the financially sound and sustainable competitiveness of Kempinski as an independent international hotel luxury brand while having increased substantially the company value over the last three years for the Kempinski shareholders. I believe it is now the right time for me to begin a new chapter in my professional career and I am excited to start my new assignment in January 2020. In the meantime, the Kempinski team and I will continue to deliver a beautiful performance for our hotel asset owners and guests alike in the traditional craftsmanship known as Kempinski.”

<strong>CFO Colin Lubbe also steps down</strong>
Colin Lubbe to step down as CFO and Vice Chairman of Kempinski Hotels
During Colin Lubbe’s ten years with the company, the portfolio grew from 47 hotels to 78 hotels under operation and 21 under pre-opening and development with the latest landmark openings in Singapore, Dubai Palm, Muscat and Bali. Since his appointment ten years ago, Colin Lubbe has served as a Member of the Management Board of Kempinski AG and as a Director of the Board of Kempinski Hotels SA and has served for the last three years as Vice Chairman of the Management Board.

Chairman of Kempinski AG, H.E. Abdulla H. Saif: “On behalf of the Supervisory Board, I would like to sincerely thank Colin Lubbe for his contribution and dedication to the group and the Kempinski Brand over the last ten years in his role as CFO, having been in charge of Finance, IT and Technical & Pre-opening Services. We would also like to thank him for having accepted in the interest of the company to extend his mandate during this transition period, thus allowing the Board to recruit and appoint his successor in a transparent and coordinated manner. We wish him every success in his future endeavours.”
Colin Lubbe: “I am very proud to have contributed to increasing the company value substantially over the last three years for the Kempinski shareholders. We are closing the business year 2018 with having yet again exceeded our company’s profit targets and having fulfilled all strategic KPI’s and net portfolio growth objectives. I leave in place an exceptionally talented team who will continue to build on what we have achieved and have no doubt that they will continue to grow and excel, individually and for the company.”