Another female CEO for the FTSE 100
Alison Brittain has just been made CEO of Whitbread, the company behind Costa Coffee and Premier Inn.
Brittain, who was the head of Lloyds Banking Group’s retail division, is the sixth FTSE 100 a female chief executive officer. She’s replacing current boss Andy Harrison who is set to retire in February 2016.
Brittain has also worked at Santander and Barclays. She is a non-executive director at Marks and Spencer.
She is set to begin her new role in January 2016.
Whitbread chairman, Richard Baker said:
“We are delighted to have secured someone of Alison’s calibre. We ran an extensive search and selection process and Alison was the standout candidate from a very strong field.
“Alison has vast experience in successfully managing multi-site operations with leading brands. She has a natural ability to inspire and motivate large customer-facing teams to deliver great service and her strong personal belief in the importance of putting the customer at the heart of the business makes her a perfect fit with our culture and values. Alison also has proven experience in delivering digital online and mobile technology, business to business marketing, and managing significant property portfolios.
“Over the last five years, under Andy’s leadership, Whitbread has generated substantial value by getting bigger and better. With the announcement of our 2020 milestones we have laid out clear plans to get bigger, and Alison’s arrival will ensure Whitbread continues to get even better still.”
Brittain said: “I am absolutely delighted to have been chosen to lead Whitbread. I am impressed by its success and its strong, well loved brands. Its belief in focussing on customers and team members is something that is very close to my heart and I am committed to supporting and developing this even further in the future. Whitbread has a clear strategy and I am looking forward to leading the company as it grows and delivers for its customers, its people and its shareholders.”
What Alison Brittain is going to be paid:
- Base salary of £775,000.
- Pension allowance of 25% salary
- Eligible to participate in the Directors’ Incentive Scheme up to 167% of salary p.a. and in the LTIP for 200% of salary
- Benefits will be in line with other directors
- Alison will receive two LTIP [Long-Term Incentive Plan] grants of 175% of salary – one expiring in March 2017 and the other in March 2018 using the same performance conditions as for other directors. There will be a two year holding period for these awards after vesting
- Alison will be purchasing c. £500,000 worth of Whitbread shares on joining the Company