In the end, the resolution passed at the AGM of the hotel giant Accor on 28 May was hardly a ringing endorsement - 47% of shareholders voted against Nicolas Sarkozy's term on the company's board being extended. The former French president, who has sat on the board since 2017 and is close to CEO Sébastien Bazin, only retained his seat by a handful of votes (Glitz understands that activist investment firm Parvus Asset Management, which holds a 10% stake in Accor, voted against renewing his term).
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