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Transformed from a group of disparate recreation was still hung on his past as a brewery in targeted budget hotel, restaurants casual and business coffee, his time as head of the 268-year-old company was certainly something to be grilled.

Fittingly, the place was Marriott County Hall, which, although no longer a Whitbread property, has been renovated after standing empty for 10 years Parker when he was head of the division of hotels.

As Parker himself pointed out in his speech of retirement, when he joined first Whitbread in 1992 the country was led by a Conservative Government, had just the Gulf war and was in a récession.Comme went note, although some things change, some things remain the same, with all these dominant factors now.

But as he moves to new pastures and pluralistic life - within a week after it takes place on 25 November, there the meetings of the Council for its variety of non-executive roles in Dubai, Paris and Barnstaple - what will become of the FTSE 100 valiant?

On the part of the President, Anthony good customers and new Chief Executive, Andy Harrison, formerly of easyJet, it is certain that future society, at least in the short term is defined.

Harrison comes from a company focused on the client with a focus on costs, and when it comes to his take on the Whitbread is likely to be evolution rather than revolution.

Habgood is a strong Chair with a clear interest in the company - after spending most of the week last in China on the trade mission of the Prime Minister to boost the ambitions of the Costa coffee in the country - and should be applauded for its stewardship of the company in the past five years, which has facilitated the growth of Parker stewardship.

But as exit Parker poignancy times should be used not only to look back, but in haste.

Some quietly questioned if function Thursday evening Whitbread we have know it remains intact, or if the reign of Harrison, rather like Parker day will be remembered for arguments with shareholders.

Although Whitbread investors are sitting quite-￡_100 invested in Whitbread in 2004 is now worth ￡ 270 - shareholders did not tend to remain filled for longtemps.Si Harrison can keep strong yields, the status quo will permise.Si this is not the case, don't be surprised if vultures start circles.

Dan Akerson, CEO of General Motors and its equipment to the team for their pre - IPO, visit in London tomorrow, life raft in the town of institutional investors wait in wells to hear the pitch of the car manufacturer.

The basic message, of course, will be that this time be différent.Gros debt crippiling once become society - through of last year and a chapter 11 bankruptcy process pieces exchange debt actions - and with a new management team in place and a resurrected with emphasis on key markets strategy, GM is clearly a proposal of different investment it was again this time two years ago.

Many who hear Akerson height will be knees it until and, as the Pope is close, will be sign up for a slice of equity .but some investors like the proverbial elephant, never forget and will not be easily persuaded to sign a second time.

Yes, it was a company is swamped by his pile of debt (￡ 38bn) $62bn and something was arriver.Mais if the agreement which has been enacted - which saw the United States and Canadian Governments take on 61pc GM equity again to finance restructuring - was fair for all is a moot point.

GM of somewhat miraculous return to the form - that it had given benefit issuers $ in his recent third quarter - and its expected return to public procurement, even if it is positive for its workers, only will not greeted by everyone, especially shareholders are cancelled first autour.

James.Quinn@Telegraph.co.UK

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