March 17, 2019 / 11:24 AM / 5 months ago

Accor CEO says Jin Jiang board member would be complicated

FILE PHOTO - The logos of AccorHotels group is pictured during a news conference at the Pullman Bangkok King Power hotel, in Bangkok, Thailand, June 15, 2017. REUTERS/Athit Perawongmetha

PARIS (Reuters) - The chief executive of Accor said it would be complicated for the French hotels group if Chinese shareholder and fellow hotel operator Shanghai Jin Jiang Hotels sought a board seat.

CEO Sebastien Bazin told French weekend newspaper Le Journal du Dimanche that the Chinese group had not so far requested a board seat at Accor, whose portfolio include Raffles, Sofitel and Pullman hotels.

“If they did, that would bring a direct competitor in many countries and brands to the board. That seems complicated to me,” Bazin said.

The Chinese group is Accor’s biggest shareholder with a nearly 12 percent stake and voting rights of nearly 18 percent, according to a regulatory filing last October.

Bazin said that it was neither a “dream nor a nightmare” to have Jin Jiang as its biggest shareholder and that the two groups met every three months.

Reporting by Leigh Thomas; Editing by Keith Weir

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