David Webster, chairman of InterContinental Hotels, claims just the one degree – from Glasgow University. Unlike his erstwhile head of the Asia Pacific Group, however, his graduation really happened.

An active chairman with a track record in taking “brutal” decisions, Mr Webster is not a man to cross lightly. Mr Imbardelli is not the first senior executive to depart abruptly from the hotel chain. Three years ago, Mr Webster orchestrated the departure of Richard North, then chief executive of IHG, less than 18 months into the job and a week after he won plaudits for delivering a 55 per cent jump in first-half profits. Mr Webster claimed to have an “amicable” relationship with Mr North as his axe fell.

Mr Webster joined IHG in January 2004, after seven years as chairman of Safeway. He was one of the triumvirate of young executives who in the 1970s formed Argyll, the company that went on to buy Safeway from its American owners in 1987.

Mr Webster sought to be a lawyer after graduating from Glasgow University, but instead became an accountant. He tired of that, and switched into corporate finance with Samuel Montagu. He built up Argyll with James Gulliver and Sir Alistair Grant. Mr Webster, son of a former Glasgow Herald London editor, Comyn Webster, is seen as quiet and studious. But he has fought in a number of bloody takeover battles, including Argyll’s failed bid for Distillers. Most recently he guided Safeway through a gruelling takeover battle that culminated in the supermarket’s takeover by Wm Morrison in 2004.

Just two weeks ago Mr Webster was extolling Mr Imbardelli’s virtues. But he is not the type of chairman to forgive a slight fib from one of his senior executives, let alone swallow three fictional degrees.

Times Recommends

• Darling under pressure on record public debt
• Mortgage drought deepens on 32% lending fall
• Oil prices firm after 10% drop to below $130