Caja Madrid to Force NH’s Burgio to Step Down, Confidencial Says

Caja Madrid, a shareholder of NH Hoteles SA, will force Gabriele Burgio to will step down as chairman of the Spanish hotelier, El Confidencial reported.

NH Hoteles will hold a board meeting today to discuss the issue, El Confidencial said, citing unidentified people with knowledge of the matter.

Spokesmen for Caja Madrid and NH Hoteles both declined to comment on the report when contacted by Bloomberg News.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net.

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.

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