This decision follows growing tensions between Giscard d’Estaing and its Chinese shareholder, culminating in the appointment of a new chairman without prior consultation with the group’s ex-chairman.
“I take note of this appointment, and consequently I also take note of my de facto dismissal. As my corporate mandate has de facto come to an end, I am obliged to cease performing my duties as Chairman of Club Med”. – Henri Giscard d’Estaing
He explained that this decision followed the appointment of a new chairman, whose name has not yet been revealed, without his agreement and without a transition period.
‘I had made it clear to the management of Fosun that I was willing and anxious, if the conditions were right, to personally ensure the success of this transition by accompanying the future leader for six months in my role as Chairman’. – Henri Giscard d’Estaing
This change in management comes after disagreements over the Group’s governance and strategy, in particular over the plan to float Club Med on the stock market. Henri Giscard d’Estaing had already expressed his desire to see the group return to the Paris stock exchange in 2026. Despite his efforts, Fosun rejected this proposal.
“Today, this listing is more necessary than ever. Club Med needs international governance that respects its values and its French roots. And that’s no longer the case today. – Henri Giscard d’Estaing
In response to the ousting, Fosun said in a statement that last year the group had launched a succession process in collaboration with Henri Giscard d’Estaing
