Overview

• Henri Giscard d’Estaing announced on July 16 that he had been “revoked de fait” as Club Med president, ending his 22-year tenure.
• Fosun appointed a successor without consulting Giscard d’Estaing and offered no transition period before the management shift.
• In an official statement, Fosun said it has no plans for a Paris IPO at this stage and that any governance decisions will be communicated in due course.
• Since late 2022, additional board seats have been created for Chinese directors, reducing the influence of French representatives.
• The FO union expressed deep concern that sudden governance shifts could destabilize employees and centralize strategic control away from Paris.