Chen Moravsky, the deputy chief executive and chief financial officer of PPHE Hotel Group, is to step down from both roles at the end of this year.
The company, which owns the Park Plaza and art'otel brands, said that Moravsky was leaving the posts in order to "pursue new opportunities" on 31 December 2017, but that he would remain as a non-executive director beyond that date.
No successor to Moravsky has yet been appointed.
Boris Ivesha, president and chief executive, said: "On behalf of the chairman and the board I would like to thank Chen for his long standing contribution. He has been a strategic asset to PPHE Hotel Group for the past 16 years and has seen the company evolve and change through each phase of its development.
"Chen has been instrumental in establishing the unprecedented financial position the company is in, and we are delighted that the board will continue to benefit from his contribution and leadership in his new role as a non-executive director and we wish him all the best in his new endeavours."
PPHE group's portfolio of owned, leased, managed and franchised hotels comprises 39 hotels, with two more planned by the end of 2019. It has a licence from Carlson Hotels Worldwide to develop and operate Park Plaza Hotels & Resorts in Europe, the Middle East and Africa.
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