The directors came to the joint conclusion that the group’s strategy is the right one, despite Hennequin’s reservations and his track record of impressive growth.The board have installed a transitional team: Philippe Citerne, previously vice-chairman of Accor’s board, is appointed non-executive chairman and Sébastien Bazin becomes vice-chairman of the board.
Meanwhile, Yann Caillère, previously president and chief operating officer, is appointed as chief executive officer.
An AGM, to be held tomorrow (25 April), will be chaired by 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."
Hennequin said: "I am particularly proud of the work achieved by our teams, 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 conquest, imagination, performance, trust and respect."