(REUTERS) - Hotel operator Millennium & Copthorne Hotels said on Wednesday (Aug 24) that chief executive officer Aloysius Lee had notified the board of his impending resignation.

Lee, who became CEO in February 2015, requested his resignation be effective Jan 31.

The company reported a disappointing first-half performance earlier this month.

Shares in the company closed up 2.6 per cent at 429 pence on the London Stock Exchange.

Up to Wednesday's close, they had fallen about a quarter since Lee's appointment.