Longtime Club Med CEO Henri Giscard d’Estaing Allegedly Ousted

The long-serving French leader of the luxury resort chain Club Med has alleged that he was removed by the Chinese parent company after a disagreement over strategy and governance.

Chairman Henri Giscard d’Estaing informed employees in a letter and a public announcement that he was unexpectedly replaced by Fosun Tourism Group, breaching a previously agreed protocol.

Read: Club Med South Africa beach resort set for July 2026 opening

In his letter dated July 16, he emphasized that Club Med “should be publicly listed and its decision-making headquarters must remain in France.”

“Despite my best efforts to convince them, Fosun refused and effectively terminated my position,” Giscard d’Estaing stated.

In a separate statement, Fosun claimed that Club Med had initiated a succession plan the previous year, which was developed in collaboration with Giscard d’Estaing and the board, and is “currently ongoing.”

Read: South Africa aims to attract Indian and Chinese tourists with visa reforms

Fosun reaffirmed its “deep respect for the French heritage and roots of the group,” promising that Club Med’s decision-making center would remain in France.

Fosun International, founded by Chinese entrepreneur Guo Guangchang, owns Club Med through Fosun Tourism.

Club Med is well-known for its all-inclusive resorts offering a range of leisure activities, from fine dining to yoga and scuba diving. Established in 1950, it operates over 60 resorts globally in locations such as the French Alps, Italy, Mexico, the Maldives, and Mauritius.

Key role

Giscard d’Estaing, 68, who has led the organization for more than twenty years, has played a pivotal role in the group’s expansion and in establishing a Club Med beach resort in South Africa, which is set to open in July next year in the KZN North Coast beach town of Tinley Manor.

This will be the group’s first resort in Southern Africa, developed by local investors, the Collins Residential consortium.

Giscard d’Estaing has attempted to launch a resort in South Africa leading up to the 2010 FIFA World Cup and has been focused on the KZN North Coast and iSimangaliso Wetland Park, near the border with Mozambique, for nearly two decades.

Listen/read:
Absa backs KZN’s Westown and Club Med major projects
‘Club Med beach resort will transform South African tourism’ – Absa head
Club Med R2bn beach resort for KZN North Coast [Sept 2023]

In his statement, he noted his active role in a “thorough” search for a new chairman and CEO alongside Fosun, but ultimately, Fosun chose one of two candidates based on its own criteria, without a transition period or assurances regarding future shareholding.

“This does not meet the urgent need to diversify shareholding, ensure international governance, and preserve French roots,” he remarked. “This won’t prevent the movement of the decision-making center to Shanghai.”

In an interview published June 11 with Le Figaro, Giscard d’Estaing noted that French authorities support a public offering, with state-owned investment firm Bpifrance showing interest in becoming a shareholder in Club Med.

© 2025 Bloomberg

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