PR Newswire/Les Echos/
April 23, 2013
Press release from the Board of Directors
Accor's Board of Directors met today at the request of its Chairman, Denis
Hennequin, with all Directors in attendance.
During this meeting, all the Directors came to the joint conclusion regarding
the Group's situation: that the strategy adopted is the right one and that it
will remain unchanged. However, given current economic conditions and the rapid
transformation of its competitive environment, Accor must accelerate the
implementation of this strategy in order to reinforce its positions. The Board
therefore requested that the top priority be given to focusing energy and
resources on transforming Accor's business model. The Board took note of Denis
Hennequin's reservations and unanimously voted to terminate his mandate with
immediate effect on April 23, 2013.
The Board paid tribute to the measures initiated by Denis Hennequin over more
than two years to refocus Accor's business, expand the group internationally
and reinforce its brands. These results will allow the group to commence a new
stage of its development with confidence.
The Board decided to install a transition executive team: Philippe Citerne,
previously ViceChairman of Accor's Board, is appointed Non-Executive Chairman
of Accor, and Sébastien Bazin becomes Vice-Chairman of the Board. Yann
Caillère, previously President and Chief Operating Off icer is appointed as
Chief Executive Officer.
Lastly, the AGM to be held this Thursday April 25, will be chaired by Philippe
Philippe Citerne, Non-Executive Chairman of Accor's Board of Directors
declared: "On behalf of the Board, I would like to pay tribute to Denis
Hennequin's new and creative perspective on the hospitality business and for
the quality of our exchanges during his mandate as Chairman and CEO, and also
at the time of his departure. I am confident in the future development of the
Denis Hennequin declared: "I am particularly proud of the work achieved by our
team s, franchisees and partners under my guidance. Together, we have
successfully expanded Accor enabling record growth over the last two years and
creating a new, dynamic brand-based approach. I am confident that everyone will
continue to uphold the values that drive the group's success: a spirit of con
quest, imagination, performance, trust and respect."
Accor, the world's leading hotel operator and market leader in Europe, is
present in 92 countries with more than 3,500 hotels and 450,000 rooms. Accor's
broad portfolio of hotel brands - Sofitel, Pullman, MGallery, Grand Mercure,
Novotel, Suite Novotel, Mercure, Adagio, ibis, ibis Styles, ibis budget and
hotelF1 - provide an extensive offer from luxury to budget. With more than
160,000 employees in Accor brand hotels worldwide, the Group offers its clients
and partners 45 years of know-how and expertise.
www.accor.com | www.accorhotels.com
Agnès Caradec Charlotte Bourgeois-Cleary
Senior Vice President, Corporate VP Media Relations
Communications and External Phone : +33 (0)1 45 38 84 84
Relations Elodie Woillez
Phone: +33 (0)1 45 38 87 52 Phone: +33 (0)1 45 38 87 08
Sébastien Valentin Léa Ledermann
Vice President, Investor Relations Investor Relations
and Financial Communication Phone: +33 (0)1 45 38 86 36
Phone: +33 (0)1 45 38 86 25
The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.
-0- Apr/24/2013 10:29 GMT
Press spacebar to pause and continue. Press esc to stop.