Accor: Supervisory Board Release

. October 14, 2008

PARIS, France, October 11, 2005. At the meeting held today, the Accor Supervisory Board reviewed the Nominations Committee's recommendations to:

  • Accept the resignation from the Supervisory Board of Maurice Simond, with immediate effect. Mr Simond will be appointed as non-voting director (censeur) as soon as the Company's new bylaws have been approved.

  • Appoint Serge Weinberg to the Supervisory Board (see biographical detail below).

  • Accept Gerard Pelisson's resignation as Chairman of the Supervisory Board.

  • Appoint Gilles Pelisson as Chairman of the Management Board effective from January 16, 2006.

The Supervisory Board voted unanimously in favor of these recommendations.

Serge Weinberg will take over as Chairman of the Supervisory Board on January 3, 2006 and will chair the forthcoming Extraordinary Shareholders' Meeting.

The Supervisory Board has decided to call an Extraordinary Shareholders' Meeting, no later than January 15, 2006, with a view to replacing the current Supervisory Board and Management Board with a Board of Directors, and separating the positions of Chairman and Chief Executive Officer.

The Supervisory Board will recommend electing Serge Weinberg as Chairman of the Board of Directors and Gilles Pelisson as Chief Executive Officer at the Extraordinary Shareholders' Meeting.

Serge Weinberg has been appointed with immediate effect as Chairman of the Governance Committee of the Supervisory Board, whose other members are Etienne Davignon, Francis Mayer and Jerome Seydoux. The Governance Committee will be responsible for preparing the resolutions to be submitted to the Extraordinary Shareholders' Meeting and drafting the internal rules of the future Board of Directors, to be discussed by the Supervisory Board.

The Supervisory Board believes that all of these decisions create the best possible basis for Accor's ongoing growth and development. Its members take this opportunity to pay tribute to Paul Dubrule and Gerard Pelisson, the two co-founders, for their immense role in creating Accor and in building the business.

With its outstanding brands, its high quality, dedicated managers and employees, its strong balance sheet, the support of the Supervisory Board and the Management Board, under the chairmanship of Jean-Marc Espalioux until 15 January 2006, the Group has all the strengths needed to successfully embark on the next phase in its expansion.

Serge Weinberg, Chairman, Weinberg Capital Partners

Born in 1951, Serge Weinberg holds a law degree and is a graduate of the Institut d'Etudes Politiques de Paris and France's Ecole Nationale d'Administration (ENA) in 1976.

After holding the position of deputy Prefet in several regions (1976-81), Serge Weinberg was appointed principal private secretary (Chef de Cabinet) to the Budget Minister (Laurent Fabius, 1981-82), before becoming Deputy General Manager (Finances) of FR3 (1982-83). He joined Havas Tourisme, first as General Manager and then as Chief Executive Officer (1983-87). He then moved to Banque Pallas' M&A subsidiary, Pallas Finances, as General Manager (1987-90).

In 1990, he joined the Pinault Group as Chief Executive Officer of CFAO (Compagnie Francaise de l'Afrique Occidentale), later becoming Chief Executive Officer of Rexel (1991-1995). From 1995 to 2005, he was Chairman of the Pinault-Printemps-Redoute Management Board. In March 2005, he set up Weinberg Capital Partners, a private equity firm specialized in LBO financing with assets of some EUR400 million.

Serge Weinberg is a Director of Bouygues and Schneider Electric and also sits on the Boards of several Pinault-Printemps-Redoute companies. He is a member of the Commission Economique de la Nation. He also participates in several non-profit associations (Union des Arts Decoratifs, Institut du Cerveau et de la Moelle Epiniere - ICM).

Related News

Choose a Social Network!

The social network you are looking for is not available.

Coming up in May 2019...

Eco-Friendly Practices: Corporate Social Responsibility

The hotel industry has undertaken a long-term effort to build more responsible and socially conscious businesses. What began with small efforts to reduce waste - such as paperless checkouts and refillable soap dispensers - has evolved into an international movement toward implementing sustainable development practices. In addition to establishing themselves as good corporate citizens, adopting eco-friendly practices is sound business for hotels. According to a recent report from Deloitte, 95% of business travelers believe the hotel industry should be undertaking “green” initiatives, and Millennials are twice as likely to support brands with strong management of environmental and social issues. Given these conclusions, hotels are continuing to innovate in the areas of environmental sustainability. For example, one leading hotel chain has designed special elevators that collect kinetic energy from the moving lift and in the process, they have reduced their energy consumption by 50%  over conventional elevators. Also, they installed an advanced air conditioning system which employs a magnetic mechanical system that makes them more energy efficient. Other hotels are installing Intelligent Building Systems which monitor and control temperatures in rooms, common areas and swimming pools, as well as ventilation and cold water systems. Some hotels are installing Electric Vehicle charging stations, planting rooftop gardens, implementing stringent recycling programs, and insisting on the use of biodegradable materials. Another trend is the creation of Green Teams within a hotel's operation that are tasked to implement earth-friendly practices and manage budgets for green projects. Some hotels have even gone so far as to curtail or eliminate room service, believing that keeping the kitchen open 24/7 isn't terribly sustainable. The May issue of the Hotel Business Review will document what some hotels are doing to integrate sustainable practices into their operations and how they are benefiting from them.