Geneva, 25 March 2021 - In connection with the termination of Martin Smura's employment and his dismissal as a member of the Management Board and Chief Executive Officer of the Kempinski Group with immediate effect by the Supervisory Board of Kempinski AG and the Board of Directors of Kempinski Hotels SA on 10 December 2020, Kempinski has initiated an investigation. Kempinski will not comment further on the investigation.
Furthermore, Kempinski conducted an in-depth review of all projects initiated by Martin Smura. As a result, Kempinski decided to terminate the planned cooperation with the 12.18. Group. The termination of this planned cooperation has no impact on Kempinski's financials.
With the recent acquisition of the international wellness company Resense Spa SA, as well as a strong pipeline including prestigious upcoming openings such as the Kempinski Palace Engelberg in Switzerland, the Universal Beijing Resort in China and additional projects underway in Saudi Arabia and Tanzania, Kempinski continues to strengthen its international foothold as a leading luxury hospitality operator.