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Accor’s global CEO fired

Denis Hennequin EDITED

Accor’s global Chairman and CEO, Denis Hennequin, has been sacked by the company’s board.

Yesterday (Apr 23), Accor’s Board of Directors met at the request Hennequin with all Directors in attendance and it was decided that his position would be terminated with immediate effect.

Hennequin had reportedly disagreed with Accor’s board on a number of matters, including the speed in which the company’s strategies were being implemented.

Yann Caillère, formerly President and Chief Operating Officer, has been named Chief Executive Officer, while former Vice Chairman Philippe Citerne, has been appointed Non-Executive Chairman. Sébastien Bazin has become Vice-Chairman of the Board.

In a statement released overnight, the Board of Accor said it was a joint conclusion to remove Hennequin from his position.

“During this meeting, all the Directors came to the joint conclusion regarding the Group’s situation: that the strategy adopted is the right one and that it will remain unchanged,” Accor’s board said.

“However, given current economic conditions and the rapid transformation of its competitive environment, Accor must accelerate the implementation of this strategy in order to reinforce its positions.

“The Board therefore requested that the top priority be given to focusing energy and resources on transforming Accor’s business model.

“The Board took note of Denis Hennequin’s reservations and unanimously voted to terminate his mandate with immediate effect on April 23, 2013.

“The Board paid tribute to the measures initiated by Denis Hennequin over more than two years to re-focus Accor’s business, expand the group internationally and reinforce its brands. These results will allow the group to commence a new stage of its development with confidence.”

Hennequin, 54, had been on Accor’s board of Directors since 2009 and was formerly the President of McDonald’s Europe since 2005.

“I am particularly proud of the work achieved by our teams, franchisees and partners under my guidance,” he said. “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.”

Non-Executive Chairman Citerne thanked Hennequin for his service to the Paris-based hotel company.

“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,” he said. “I am confident in the future development of the Group.”

Caillère, 59, a graduate of the Ecole Hôtelière de Thonon-les-Bains in France, is one of the world’s most experienced Hoteliers.

Since August 2010 he has been deputy CEO and Chief Operating Officer and was formerly the Chief Operating Officer for hotels across Europe, Middle East and Africa (EMEA), as well as Sofitel Worldwide, and Hotel Design and Construction Worldwide.

Caillère is also a former Chairman of the Louvre Hôtels Group and held the position as COO and President of Disneyland Resort Paris.

In March, Caillère spoke exclusively to HM at ITB in Berlin and to view the interview, click on the YouTube video below.

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