The combined ordinary and extraordinary meeting of Accor shareholders was held today at the Novotel Paris Est hotel in Bagnolet. Shareholders, who represented 76 percent of the voting rights, approved all of the submitted resolutions.
PARIS--The Combined Ordinary and Extraordinary Meeting of Accor shareholders was held today at the Novotel Paris Est hotel in Bagnolet. It was chaired by Gilles Pélisson, Chairman and Chief Executive Officer, and was attended by the members of the Board of Directors and 400 shareholders. Shareholders, who represented 76% of the voting rights, approved all of the submitted resolutions.
Demerger of the Hotels and Services businesses
The resolution concerning the asset contribution-demerger of Edenred and the attribution of Edenred shares to Accor shareholders was approved by a very large majority of the shareholders.
The ex-rights date for the Edenred shares will be July 2, 2010, the same day they are delivered and start trading on the NYSE Euronext Paris stock exchange.
Each Accor shareholder will receive one Edenred share for each Accor share held.
Gilles Pélisson thanked the Accor teams for their dedication and hard work in successfully carrying out the demerger, adding, “we are proud to have created two international, industry-leading champions. I wish the very best of success to Edenred, Jacques Stern and his team.”
Shareholders approved the payment of a cash dividend of €1.05 per share, with both the ex-dividend and payment date set for July 2, 2010.
Two ambitious corporate missions
Mr. Pélisson emphasized the importance, in the Group’s history, of this new step, which will enable Accor and Edenred to drive faster growth with the support of their shareholders.
During the Meeting, Mr. Pélisson presented the strategy of the new Accor, “energized by Ariane 2015, an ambitious corporate mission project that is being enthusiastically embraced by all of our teams around the world.” Jacques Stern also presented the Edenred corporate project.
Membership of the Accor Board of Directors
Shareholders elected Sophie Gasperment as an independent director, for the three-year term specified in the by-laws.
In addition, Thomas J. Barrack and Patrick Sayer were re-elected to the Board, which had nominated them on May 11, 2010. In this way, effective 2010, one third of the Board’s members will stand for re-election every year.
Following the Shareholders’ Meeting, the Board of Directors now comprises 11 members, a majority of whom are independent:
Gilles Pélisson Chairman and Chief Executive Officer
Jean-Paul Bailly* Chairman of Groupe La Poste.
Thomas J. Barrack, Jr. Founder, Chairman and Chief Executive Officer of Colony Capital LLC
Sébastien Bazin Managing Director Europe and Chief Executive Officer of Colony Capital SAS
Philippe Citerne* Former Chief Operating Officer of Société Générale
Sophie Gasperment* Chief Executive Officer of The Body Shop International (L’Oréal Group)
Denis Hennequin* President of McDonald's Europe
Bertrand Meheut* Chairman of the Groupe Canal+ Management Board
Virginie Morgon Member of the Eurazeo Management Board
Franck Riboud* Chairman and Chief Executive Officer of Danone
Patrick Sayer Chairman of the Management Board of Eurazeo
Final results of voting on the resolutions will be available in the finance section of www.accor.com.
- July 20, 2010: Second-quarter 2010 revenue
- August 26, 2010: First-half 2010 results
Accor, a major global group and the European leader in hotels, as well as the global leader in services to corporate clients and public institutions, operates in nearly 100 countries with 150,000 employees.It offers its clients over 40 years of expertise in two core businesses:
- Hotels, with the Sofitel, Pullman, MGallery, Novotel, Mercure, Suitehotel, Adagio, ibis, all seasons, Etap Hotel, Formule 1, hotelF1 and Motel 6 brands, representing 4,000 hotels and nearly 500,000 rooms in 90 countries, as well as strategically related activities, such as Thalassa sea&spa, Lenôtre and CWL.
- Prepaid Services, with 32 million people in 40 countries benefiting from Accor Services products in employee and public benefits, rewards and motivation, and expense management.
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