- Accor board cleared its CEO of conflict allegations.
- Probe came amid broader scrutiny of Accor.
- Paris law firm BDGS conducted the investigation.
THE ACCOR SA board commissioned an independent investigation into CEO Sébastien Bazin after anonymous allegations of conflicts of interest and favoritism. The probe found no evidence that Bazin breached his legal or fiduciary duties, and the board unanimously accepted the findings.
The probe concluded in recent weeks and examined allegations involving Accor's dealings with Paris Society and a senior executive appointment, according to the Financial Times. The investigation was conducted by Paris law firm BDGS after Bazin requested a review of an anonymous document circulated to board members.
"Accor Group confirms that it conducted an independent investigation following anonymous allegations involving its leader. The findings confirmed that he breached no legal or fiduciary obligations," the company said, according to the Times.
Accor said its board unanimously endorsed the findings, closed the investigation and reserved the right to pursue legal action over the allegations.
The investigation, led by Antoine Gosset-Grainville of BDGS, examined whether there was favoritism in the 2025 appointment of a former Accor external communications adviser to a senior role at its luxury division, Ennismore.
According to the Financial Times, the woman is in a long-term relationship with Bazin, but the relationship was not included in the anonymous allegations submitted to the board and was not investigated. Meanwhile, Accor is planning a U.S. initial public offering for Ennismore, which operates more than 200 hotels and 500 restaurants.
Accor is preparing to name a successor to Bazin, who said in May he will step down when his term expires in May 2028 after leading the company since 2013.
The probe also examined whether Bazin's relationship with Laurent de Gourcuff influenced Accor's dealings with Paris Society.
Accor invested in the hospitality company in 2017, acquired it in 2022 and sold about 20 nightclubs back to de Gourcuff last year, while he continued to manage the business under Accor's ownership.
The allegations questioned why the nightclub sale was reversed so soon and whether safeguards protected shareholders' interests.
According to a person familiar with the matter cited by the Financial Times, Accor's investment committee approved the transactions and the nightclub sale was consistent with the company's strategy of disposing of nightlife assets.
Paris Society said Bazin and de Gourcuff met in 2017 and that their relationship was "primarily professional."
Paris Society also said nightclubs "were never a strategic focus" for Accor. It said the transaction received all required approvals, created value for shareholders and "has nothing to do with any kind of preferential treatment or a sudden change of course."
The investigation comes as Accor faces broader scrutiny. Earlier this year, short seller Grizzly Research alleged the company failed to guard against human trafficking and child sexual exploitation, but Chief Sustainability Officer Coline Pont said in May that an independent review found no systemic deficiencies in the company's procedures.
The Financial Times reported that the scrutiny has prompted internal questions about whether there is a coordinated effort to destabilize the company.
Accor, which operates more than 5,000 hotels across 45 brands, expanded into Asia and the Middle East under Bazin, but its shares have lagged the broader market. Activist investor Parvus Asset Management, which owns a 15 percent stake, has said it will remain focused on the company's governance.
