Accor: Celebrity island

Accor is turning into the reality tv show of French business. A board coup engineered by investment funds Colony Capital and Eurazeo has just led to the ousting of company chairman Serge Weinberg and the resignation of six of the hotel group’s directors. Among the protesters are business celebrities Baudouin Prot, the BNP Paribas boss, and the CEO of state-owned financial powerhouse Caisse des Depots. Other board celebrities, such as Danone’s CEO Frank Riboud, have sided with the funds, who toge...