Henri Giscard d’Estaing sent a letter to the employees of the Mediterranean club on Wednesday July 16. The 68 -year -old boss wrote that “the shareholder decided to appoint a new president”. “So I’m going to leave your heart tight,” he added. But why does the shareholder of Club Med separate from his boss?
The results are historical. THE Group’s turnover has multiplied by 4 since 2015 And exceeds 2 billion euros. The operating margin reaches 9%, which is colossal. The Club Med will finish 2025 with two -digit growth and a new performance record.
However, the head of the boss falls because Fosun, its Chinese shareholder, does not support the failure of the group in China. Neither the resorts nor the brand of weekend villages were able to seduce Chinese customers. In addition, a change in the shareholder’s executive committee had 2 and a half years ago and is less patient than the previous team.
The group has been under Chinese pavilion since 2015
The Med Club has passed under Chinese pavilion since 2015 after an OPA, that is to say a takeover of the Club Med by purchasing of action, until being the majority. Gradually, The French of the Board of Directors were ousted. First the financial director, then the right arm of the president and the president himself, Henri Giscard d’Estaing, son of the former President of the Republic.
This succession is brutal because Henri Giscard d’Estaing estimates Do not have had a say enough in the choice of his successor. There was no transition period, nor support for the new one by the boss who has known the box for 20 years. As soon as his successor was chosen, his name will be known in the summer, Giscard was asked to leave and immediately.
“Ensemble, We were a French champion “he wrote in his letter to the Go of the club. He praised their kindness, their pioneering spirit, their multiculturality. Values that made the success of Club Med “and that I do not find at Fosun,” he continued. The boss pleaded for the headquarters to not go to Shanghai, but that he stays in France.
A French group created in 1950
He recalled his wish, for years, of a group’s re-tacking on the Paris Stock Exchange. The Chinese wanted to get out. Henri Giscard d’Estaing concluded: “The vast majority of administrators, based in Shanghai, has little international experience. They do not know Club Med and its French roots”.
The French group was launched in 1950 by Gérard Blitz and Gilbert Trigano. They have invented the concept of all inclusivethe all inclusive in the stay. The story began in Mallorca in Spain. Today it is nearly 80 resorts, more and more upscale, one of the fights by Henri Giscard d’Estaing.
His other fight was to be present all over the world. In 2028, The first Med Middle East club will open its doors to Oman, After 15 years of work led by the former boss who will not be there for the inauguration.
