Former French president Sarkozy joins AccorHotels' board | Reuters

PARIS Former French President Nicolas Sarkozy has been appointed as a director of AccorHotels (ACCP.PA) and will chair its newly created international strategy committee, Europe's largest hotels group said on Tuesday.Sarkozy, who led France for five years from 2007, lost his bid for another presidential term in November after coming third in the primaries of his center-right party.At AccorHotels the 62-year-old replaces Nadra Moussalem, the head of private equity firm Colony Europe which sold its 4.9 percent stake earlier this month.This is the first time that a former French president has joined the board of directors of a French blue chip company.

Reuters February 22, 2017 00:17:27 IST
Former French president Sarkozy joins AccorHotels' board
| Reuters

Former French president Sarkozy joins AccorHotels board
 Reuters

PARIS Former French President Nicolas Sarkozy has been appointed as a director of AccorHotels (ACCP.PA) and will chair its newly created international strategy committee, Europe's largest hotels group said on Tuesday.Sarkozy, who led France for five years from 2007, lost his bid for another presidential term in November after coming third in the primaries of his center-right party.At AccorHotels the 62-year-old replaces Nadra Moussalem, the head of private equity firm Colony Europe which sold its 4.9 percent stake earlier this month.This is the first time that a former French president has joined the board of directors of a French blue chip company.

Sarkozy becomes an independent director, effective from Tuesday and for the remainder of Moussalem's term, which ends at the close of the shareholders' meeting that will approve financial accounts for 2018, the company said in a statement.The strategy committee Sarkozy will head will focus on the development of AccorHotels' network and brand portfolio throughout the world, as well as on the promotion of French tourism.

"The international expertise of Nicolas Sarkozy and his perfect knowledge of geopolitical issues are tremendous assets for the group," said Sebastien Bazin, chairman and chief executive.

AccorHotels is due to report its financial results for 2016 on February 22. (Reporting by Dominique Vidalon; Editing by Greg Mahlich)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.