PARIS, April 23 Accor's board ousted
Chief Executive Denis Hennequin on Tuesday in a disagreement
over the pace of change of strategy at Europe's largest hotel
Accor named a transition executive team including Chief
Operating Officer Yann Caillere as CEO. Board member Sebastien
Bazin, the head of Colony Europe, was named vice-chairman to
replace Philippe Citerne, who becomes non-executive chairman.
"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 said in a statement.
"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."
(Reporting by James Regan; Editing by Dominique Vidalon)