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Hilton denies Michels departure rumours

15 November 2005
Hilton denies Michels departure rumours

Hilton has denied speculation its UK chief executive David Michels is set to leave the company.

Rumour surrounding Michels' departure has been growing since Hilton's US sister company, Hilton Hotels Corporation, tabled a £3.6b bid for the UK group in October.

This weekend, The Sunday Times reported that 58-year old Michels, who holds about £7m in Hilton share options, will cash in and leave to start up a new venture once the landmark deal is done.

However, a Hilton spokeswoman dismissed the rumours. "They have no foundation and are absolute nonsense."

Michels was chief executive at Stakis before it was taken over by Hilton in 1999. He has held his current position at Hilton since then.

By Emily Manson

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