Club Med: How Henri Giscard d'Estaing came to act on his "de facto dismissal"

Now it's his turn to pack his bags. And it shouldn't be to one of the 63 resorts owned by the Club Med group around the world. After more than twenty years at the helm of the French tourism flagship, which celebrates its 75th anniversary this year, Henri Giscard d'Estaing, 68, announced his "de facto dismissal" on Wednesday, July 16, following a disagreement with the sole shareholder since 2015, the Chinese conglomerate Fosun.

In a handwritten letter addressed to his "dear GOs [kind organizers, editor's note], dear GEs [kind employees], dear colleagues at Club Med" , the son of former President Valéry Giscard d'Estaing bitterly expressed the decision of the main shareholder: "Fosun has decided to appoint a new president of Club Med. I wanted to support him by gradually handing over my role to him: that is not what they decided."

The man who repeatedly said he had no "vocation for eternity" was nevertheless involved in the process of appointing his successor. But Fosun allegedly cut the ground from under his feet by arbitrating between the two finalists without consulting him. The name of his replacement, who left his previous position on July 7, has not been officially confirmed by the group.