2013-01-08 — /travelprnews.com/ — Accor has announced that Franck Riboud stepped down from the Company’s Board of Directors effective December 31, 2012. His decision was in line with the recommendation limiting the number of directorships that should be held by an executive director in accordance with good corporate governance practice.
Mr. Riboud was first elected to Accor’s Supervisory Board on July 3, 2001 and subsequently became an independent director following the change in the Company’s governance structure on January 9, 2006. He was also a member of the Compensation, Appointments and Corporate Governance Committee.
In the coming weeks, the Compensation, Appointments and Corporate Governance Committee will review the various options and make a recommendation to the Board of Directors concerning the composition of the Board following Mr. Riboud’s departure.
Denis Hennequin, Accor’s Chairman and Chief Executive officer said: “I would like to sincerely thank Franck Riboud for his outstanding contribution to Accor’s corporate governance during more than ten years. Franck played an essential role in reshaping our Group, through his engagement, strategic vision and deep understanding of the globalization issues facing our industry, backed by his widely recognized independence of mind.”
Accor, the world’s leading hotel operator and market leader in Europe, is present in 92 countries with nearly 3,500 hotels and 440,000 rooms. Accor’s broad portfolio of hotel brands – Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, ibis Styles, ibis budget and hotelF1 – provides 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.
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