However,
Conflict its chinese shareholder, henri:
Considering himself revoked by the conglomerate, a 100% shareholder since 2015, the manager announces his immediate departure. Similarly, The name of his successor is not yet known.
” Bye.” President of Club Med since 2002. Furthermore, Henri Giscard d’Estaing puts an end to the torture that has been subject to his unique shareholder for over two years, the Chinese conglomerate Fosun. However, Not only did the latter chose his successor without asking him for his opinion. Similarly, but he offered to take his place without a transition period. In addition, “I wanted to be able to accompany him. However, This is not what they decided. Consequently, So I’m going to have to leave you. Furthermore, with a tight heart ”, he wrote in a letter to the Go of the founded company and 1950 conflict its chinese shareholder, henri by Gérard Blitz and developed from 1953 by Serge Trigano, to tell them the decision he was “Forced” to take. “I take note of this appointment. Therefore, I take note of my de facto revocation, Announcement Henri Giscard d’Estaing in a press statement. I wish my successor good and good luck. Moreover, ”
Club president Med, 68, has lost his standoff with his Chinese shareholder. Nevertheless, Regardless of the success of the upgrade strategy that he has started for years. Similarly, With its park of 70 resorts, the club achieved a turnover of 2.1 billion euros last year and an operating margin of 9.1 %, multiplied by four in ten years. For example, “In 2025. For example, we will make again records, with an increase in our turnover and a two -digit progression of our operating profit, announced at Figaro CEO a month ago. Meanwhile, Our margin will be conflict its chinese shareholder, henri close to 10%. Moreover, ”
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Since taking control of Club Med following a long OPA, in 2015, the group led by Guo Guangchang had always left the frank cubits to Henri Giscard d’Estaing. However, He offered great latitude to the son of the former President of the French Republic. Moreover, whose relations with local elected officials are so precious. Consequently, But the mixed success of open clubs open in China. Furthermore, and especially the failure of the Joy View by Club Med, weekend villages built close to Beijing and Shanghai, created a first breach between «Henri» et «Chairman Guo».
Above all. Meanwhile, at the end of 2022, the arrival of a new president at the head of Fosun Tourism Group changed the situation. Listed on the conflict its chinese shareholder, henri Hong Kong Stock Exchange. this subsidiary of the Chinese conglomerate has three quarters of its profits with Club Med. His new boss. Xu Xiaoliang, does not have the same relations with Henri Giscard d’Estaing as his predecessor, which trusted him. He is also chairman of the board of directors of the Club Med. even if Henri Giscard d’Estaing is a corporate agent and executive president of the company.
Conflict its chinese shareholder. henri – Conflict its chinese shareholder, henri
«Gentlemen agreement»
A man of power, Chinese multiplies efforts to strengthen his grip on the management of Club Med. At the end of 2023. two additional seats were created at the board, entrusted to Chinese, lowering the influence of the two French directors of the club, Henri Giscard d’Estaing and Georges Pauget. Proof of the loss of influence of the boss of Club Med. he must abandon most of his functions at Fosun Tourism Group. conflict its chinese shareholder, henri If he remains at the Board. he is no longer an executive director, vice-president, nor a member of the strategic committee, or a member of the environmental, social and governance committee.
In the spring of 2024. XU Xiaoliang wanted to entrust the financial management of Club Med to Edmond On Choi, already a financial director of Fosun Tourism Group. A function assumed by Michel Wolfovski. Also a corporate officer of Club Med. the latter, an old traveling companion of Giscard, accumulated the functions of managing director, financial director and boss of the Americas area. If he would have agreed to have Edmund Choi under his orders. he refused that the latter was appointed director without postponing him, as the Chinese wanted. He was forced to resign from his functions as a corporate agent, before being dismissed. This dismissal did not like Henri Giscard d’Estaing. who had made his disagreement conflict its chinese shareholder, henri in the middle of last summer in a letter to the employees, nor to Georges Pauget. The only independent administrator of Club Med, this former manager of Crédit Agricole resigned on July 24, 2024.
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At the end of September, a “Gentlemen Agreement” seemed to have been found between Henri Giscard d’Estaing and Fosun, with new governance. Around the president, three delegated managing directors had been appointed: Gino Andreetta, Gregory Lanter and Andrew Xu. Two other executives from her team, Sylvie Brisson and Anne Browaeys, had seen their functions extended. This organization chart was supposed to make the relatives of the French boss rose in rank while satisfying Fosun. “Entering Club Med in a new development phase, which will result in a new strategic project ‘Club Med 2030′”. Las. The conflict its chinese shareholder, henri relations between Henri Giscard d’Estaing. the teams of Fosun always stayed tense, despite the new Forever Young strategic plan, which aims to double sales of Club Med. Additionally, The failure of the attempted capital opening in early 2024 left traces.
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Conflict its chinese shareholder. henri – Conflict its chinese shareholder, henri
Reintroduction project to the Paris Stock Exchange
The Mauss family, owner of Lacoste, Aigle, The Kooples, looked at the file and proposed to take the majority of the capital. But Fosun, which would value Club Med at 2 billion euros, does not want to sell more than 30%. At the end of 2024, Fosun removed its tourism branch from the side. Mid-June. Henri Giscard d’Estaing announced to Figaro what “The best way to implement our Forever Young strategic project is to return to the Paris Stock Exchange from the first half of 2026. It is a win-win project for Fosun and conflict its chinese shareholder, henri Club Med. Fosun will be able to enhance its investment. while remaining the majority shareholder and have French and international shareholders alongside it. It will also be the way to associate the talents of Club Med with the success of the company ”. And the CEO to specify : “The group could be valued at almost 2 billion euros. By imagining that Fosun yields 30% to 40% of his participation, the floating will be sufficient. In the short term, the company has no financial needs, because its developments are funded by external investors. ”
History of putting pressure on Fosun, Henri Giscard d’Estaing pushed the nail: “My ambition is not to last. My project is now to support Club Med towards its new rating on the Paris Stock Exchange. put it on the right track for the future. ” That said, time is running out. “I have been leading conflict its chinese shareholder, henri discussions on these two subjects for months, which are linked. I hope they will be successful positively in the coming weeks ” In the process. a relative of Giscard d’Estaing entrusted: “He takes his risk.” Discovering his speaking on the website of Figarothe management made known its wrath. “At this stage. we have no project to introduce Club Med”, she assured in a press release, before specifying: “Since last year, the preparation of the succession of Club Med has experienced significant progress, and Henri has worked closely with Fosun to advance the terms of this transition. Any decision made in this regard will be communicated in due time »
Conflict its chinese shareholder, henri
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