Accor Supervisory Board Release
Paris, | 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 attached biographical details).
- Accept Gérard Pélisson’s resignation as Chairman of the Supervisory Board.
- Appoint Gilles Pélisson 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 Pélisson 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 Jérôme 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 Gérard Pélisson, 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.