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Accor SA's CEO Could Leave Under Shareholder Pressure-Reuters

Tuesday, 23 Apr 2013 02:01am EDT 

Reuters reported that Accor SA's Chief Executive may be ousted by the Company's board following shareholder impatience with its weak share performance in recent months, newspapers reported on April 23, 2013. Denis Hennequin, who took the top job at Accor after his predecessor quit in 2010, has been accused of taking too long to overhaul the Company. Accor's two top shareholders, private equity firm Eurazeo EURA.PA and U.S. investor Colony Capital, want the chain to accelerate the sale of hotels it owns in favour of management contracts or franchises, Le Figaro newspaper reported. Le Figaro said a board meeting will be held later on Tuesday to consider Hennequin's future. Financial daily Les Echos carried a similar report. Accor officials could not immediately be reached for comment. Eurazeo and Colony both declined to comment. 

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-0.91 -1.93%
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