PARIS Aug 26 Accor is set to appoint
Sebastien Bazin, the French hotel group's vice-chairman, as its
new chief executive, the website of magazine Le Point reported
on Monday without citing sources.
The appointment of Bazin, who heads the European operations
of U.S. investment fund Colony Capital, one of Accor's key
shareholders, is expected to be confirmed at a board meeting on
Tuesday morning, according to the report.
An Accor spokeswoman declined to comment on the report.
Colony invested 1 billion euros ($1.34 billion) in Accor in
2005 and together with French private equity fund Eurazeo
now controls 21.4 percent of the group and four board
The U.S. investment fund masterminded the separation of
Accor from its vouchers business Edenred in 2010 and
the latter's successful listing.
Bazin became vice-chairman in April after the world's
fourth-largest hotelier ousted Chairman and Chief Executive
Denis Hennequin and put in charge a transition management team,
promoting Chief Operating Officer Yann Caillere as CEO.
Sources said at the time that stakeholders were losing
patience with the weak performance of Accor shares and wanted to
speed up asset sales and franchising to boost returns.