Accor chairman and CEO Sébastien Bazin will step down in 2028 at the end of his current term, he announced this week at the company's annual shareholder meeting in Paris.
Bazin, who joined the French hospitality group as CEO in 2013, said: "I was clear with the board of directors and the board was equally clear with me, this will be my last term."
He confirmed that he would remain in place until May 2028, adding “if the board of directors finds the right person beforehand, maybe we can conclude my term of office, but we have time."
Succession planning is already underway, with Bazin adding: “Now is the time to get to work. Now is the time to lay the groundwork… It's important to agree or not on the profile of my successor, find the right talents. We have many talents in this company. We need to grow those talents. Upskilling is absolutely key. And the board of directors will have the final say. We may be able to find additional talents outside the company.”
Despite the forthcoming leadership change, Bazin stressed the company will “continue to manage our day-to-day, execute our strategic roadmap, make the right decisions regarding Ennismore [and] deploy our business in India”. Accor currently has 70 hotels in India, with an additional 70 in the pipeline.
Bazin became Accor's chairman and CEO in August 2013 following a series of executive roles across the hospitality, finance and real estate sectors.