Club Med says business as usual despite Guo's situation

Club Med says business as usual despite Guo's situation
PHOTO: Club Med Singapore

PARIS - Club Med, owned by Chinese conglomerate Fosun, said on Friday the unclear situation of Fosun's chairman did not change anything to the French holiday group's business operations or governance.

Club Med issued the statement as shares in firms controlled by Guo Guangchang, one of China's best-known entrepreneurs, were suspended in Hong Kong and the mainland after a financial magazine said Fosun had lost contact with its billionaire founder and chairman. "Ongoing events do not change anything to the operations, business and governance of Club Med, whose chairman of the board is Henri Giscard d'Estaing," the statement said.

Club Med said Giscard was reiterating his "trust and respect to Guo Guangchang and to Fosun, who have accompanied and supported Club Med's development strategy for six years".

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