Alan Parker, chief executive of Whitbread, admits the company is under pressure from investors to prove it should be allowed to remain independent, according to an internal memo The Times has seen. The memo outlines a "major transformation to the organisational structure of Whitbread". This involves the merging of the hotel and pub-restaurant divisions. It names 11 senior executives who will leave. But some analysts believe the proposed new structure indicates Parker might be considering further asset sales. Patience Wheatcroft, in The Times, debunked all the rumours circulating about a Whitbread break-up. She writes that Parker is enthusiastic about prospects for the various divisions. She says he is not selling Costa Coffee. In fact, he sees great potential for the brand, which has just opened in Pakistan, she says. The Times 08/10/05 page 57 (Commentary), page 63

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