WB Group Holdings Plc announces that Richard Balfour-Lynn has decided to step down as Chief Executive and a director of the Group with effect from March 31, 2012.
Richard Balfour-Lynn said: "This has been a hard decision for me as I have been with MWB Group most of my working life. I will remain a committed and supportive shareholder and have every confidence in both the Board of MWB Group and the management teams to take the Group to the next stage of its development.
"We have two growing subsidiaries with strong brands MWB Business Exchange, Malmaison and Hotel Du Vin."
Eric Sanderson, Chairman said: "Richard is an exceptional entrepreneur who has built up a major hotel and business services group. He has always been passionate about developing great hospitality in the business. We would like to thank him for his drive and enthusiasm in building some exceptional brands."
Source: MWB Group Holdings