Gabriel Escarrer Juliá, founder of the hotel company Meliá, has left the presidency of the company in the hands of his son Gabriel Escarrer Jaume, current CEO of the Mallorcan family group, as reported this morning by the hotel company to the Comisión Nacional del Mercado de Valores (CNMV)

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Gabriel Escarrer Juliá, founder and Chairman of Meliá Hotels International, recognised with the Duarte, Sanchez and Mella Medal of Merit by the Dominican Republic. Photo: Facebook Melià Hotels.

The founder of the Melía hotel chain, Gabriel Escarrer Julià, has left the presidency of the company in the hands of his son Gabriel Escarrer Jaume, current CEO of the Mallorcan family group. The hotel company informed the Spanish Securities and Exchange Commission (CNMV) this morning.

The board of directors of the company at its meeting held this Thursday decided to accept the resignation of Gabriel Escarrer Juliá as chairman of the board of directors and to appoint his son as the new chairman of the company.

With these agreements, the governing body of the hotel company culminates the Succession Plan drawn up at the behest of the founder and unanimously approved by its members on 13 December 2016, “to ensure the continuity of the business and the necessary security and confidence to all stakeholders”.

Gabriel Escarrer Juliá, current chairman and founder of Melià Hotels International Group resigns from his position as chairman (non-executive) being appointed as honorary chairman in gratitude of the company for “his great dedication and invaluable contribution and support”.

He maintains his position as external proprietary director and member of the board of directors. As honorary chairman, he will have representative functions and will advise the board of directors and the chairman of the board.

The 88-year-old Escarrer Juliá founded the company in 1956 at the age of 21. At that time he bought and managed a 60-room hotel in Mallorca, the company’s headquarters and the seed of today’s group. Since then, he has led the group for six decades, turning it into an international giant after its expansion into the Caribbean and Southeast Asia.

Following this resignation and culminating the succession plan drawn up at the behest of its founder, the board of directors has agreed to appoint Gabriel Escarrer Jaume as the new chairman, who also retains his powers as CEO to lead the company.