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Accor ceo Gilles Pelisson has also assumed the role of board chairman, after previous chairman Serge Weinberg and five other board members resigned. The exodus stems from the full board's stated intention to combine the chairman and ceo roles at the Paris-based hotels and services group, Accor said.
Weinberg and the other board members who resigned said in a statement combining the two executive roles would not enable them "to carry out normally" their responsibilities. They added that Eurazeo and U.S. investment fund Colony Capital, which together own over 30 percent of Accor's capital, had questioned "this governance balance" to change the composition of the board and combine the two functions.
In addition to Weinberg, Augustin de Romanet, head of French state bank Caisse des Depots, and Baudoin Prot, chief executive of French bank BNP Paribas, were among those who resigned. "It was known that relations between Weinberg and Colony-Eurazeo were rather tense, so that the resignation of the former is not surprising," one sector analyst who requested anonymity told the Reuters news service. "What is surprising, on the other hand, is the departure of two out of Accor's three bankers."
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