Accor chairman ousted over strategy differences

Denis Hennequin leaves Accor following a dispute with the board

Denis Hennequin leaves Accor. Image: Getty.
Denis Hennequin leaves Accor. Image: Getty.

The board of hotel operator Accor SA, ousted chairman Denis Hennequin on Tuesday following a disagreement over strategy and the pace of change at the company.

Hennequin had disagreed with the board on the need for accelerated implementation of Accor’s strategy which includes expansion and focusing on hotel operations. Its brand portfolio includes Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure and ibis.

In a statement released by Accor following Hennequin’s departure the board stated: “The board took note of Denis Hennequin’s reservations and unanimously voted to terminate his mandate with immediate effect on April 23, 2013.”

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A transitional executive team has been installed headed up by Philippe Citerne, appointed non-executive chairman of Accor, Sébastien Bazin becomes vice-chairman of the Board. Yann Caillère, previously president and chief operating officer is appointed as CEO.

Accor’s AGM to be held this Thursday April 25, will be chaired by Philippe Citerne.

Citerne said: “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 Group.”

 

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