The Annual General Meeting has appointed four new Board members and has declared the existence of a conflict of interest with HNA Group Board members. Alfredo Fernández Agras has been nominated Chairman of the Board of Directors and Vice Chairman of the Delegated Commission, as well as Co-Chairman of the Company alongside with José Antonio Castro, Chairman of the Delegated Commission and Vice Chairman of the Board.
The Board of Directors has nominated Beatriz Puente, Ramón Aragonés and Rufino Pérez as Executive Managing Directors of the Group, reporting to the Delegated Commission. The Board has not re-elected Federico J. González Tejera as CEO of the Company.

The Board is committed to implementing the highest standards of corporate governance going forward and has given a clear mandate and guidelines to the management team to maximize the value for all stakeholders. To this end, and in order to further align management and shareholder interests, the Board will work to implement a long term incentive plan that will be linked to free cash flow, cost efficiency, deleverage and absolute share price performance.

At yesterday‘s Annual General Meeting of NH Hotel Group the overwhelming decision of the shareholders declared the existence of a conflict of interest among HNA Group Co Limited (“HNA”) representatives (“HNA Directors”) on the board of directors of NH Hotel Group (“NH” and such Board, the “Board”). In addition, the shareholders meeting appointed four new Board members: Paul Daniel Johnson, Fernando Lacadena, José María Cantero and María Grecna.

The Board is committed to implementing the highest standards of corporate governance going forward. The addition of the four new candidates, with a wealth of industry and finance experience, will add a significant backbone to the Board and ensure that all shareholders rights are protected.
Alfredo Fernández Agras has been nominated Chairman of the Board of Directors and Vice Chairman of the Delegated Commission, as well as Co-Chairman of the Company alongside with José Antonio Castro, Chairman of the Delegated Commission and Vice Chairman of the Board.

The Board of Directors has decided not to re-elect Federico J. González Tejera as CEO of the Company. Since he joined, the Company has made great strides in improving the brand. NH Hotel Group is in a much better place now than it was than when he joined. He leaves behind a strong, motivated and committed team.

The Board of Directors has nominated Beatriz Puente as Executive Managing Director of Administration and Finance (CFO), Ramón Aragonés as Executive Managing Director of Business and Operations, and Rufino Pérez as Executive Managing Director of Corporate Resources.