Accor has appointed Sébastien Bazin as the company’s new Chairman and CEO.
Bazin’s appointment ends a four month search for a new leader by the Paris-based chain, following the sacking of Denis Hennequin in late April.
Since then, Yann Caillère, formerly the company’s President and COO, has been the CEO of Accor and will subsequently stand-down when Bazin takes over.
Bazin, a board director of Accor, is currently the Principal, Managing Director Europe and Chief Executive Officer of Colony Capital, a company that holds a 21% stake in Accor.
“I take on this new role with great ambition for the Group, to which I am deeply committed, and acute awareness of the challenges it currently faces,” Bazin said.
“I want it to find the boldness, dynamism and desire which it has always been led by. And I wish us to work all together, employees, franchisees and partners, directors and shareholders, and that we will work confidently towards a common goal: to develop the Group to the very highest level with commitment and stringency.”
Accor’s co-founders Gerard Pélisson and Paul Dubrule have welcomed the appointment of Bazin, a man who will push forward with the company’s ‘Asset Light’ strategy of 80% managed and franchised hotels and 20% leased and owned.
“We have known Sébastien for over 10 years [and] we have always had frank and direct relationship with him,” Pélisson and Dubrule said.
“He has proven his commitment to this group that we founded more than 40 years ago, and to its values… we are convinced that he will be able to give the fresh impetus Accor needs to continue to develop over time.”
Bazin has been involved in the hotel sector since 1992 when he became the CEO of Immobilière Hôtelière and in 1997 he joined Colony Capital, where he managed a number of major investments in hotels, including the purchase of Fairmont and Raffles, the acquisition and management of hotel assets from La Générale des Eaux, Club Méditerranée and Accor, and the acquisition of a stake in Lucien Barrière Group, and the investment in Accor.
Pictured above: Bazin speaking at the Association HEC conference in 2011.