Sebastien Bazin, the chief executive of Accor, France’s leading international hotel group, has argued that pulling out of the Russian market would be inappropriate given the current geopolitical and economic context. He insisted that the company does not have the prerequisites to exit and that any move would carry significant fiduciary implications for the years ahead. Bazin stressed that leaving Russia would leave Accor unable to fulfill its obligations to guests, partners, and shareholders alike, framing the issue as not merely strategic but also legal in nature. He emphasized a long-term fiduciary duty extending well into the next two decades, warning that abrupt withdrawals could undermine the company’s commitments and financial stability. (TASS)
The executive also indicated that the trajectory of this decision could shift if international sanctions tightened further. A tougher stance from the European Union, the United Kingdom, or the United States could alter the calculus, potentially changing the risk-reward balance for continuing operations in Russia. He noted that a withdrawal would amount to abandoning everything the group has built on the market, effectively surrendering value accumulated over many years. (TASS)
Bazin pointed to Accor’s existing experience in volatile regions as part of the company’s risk management framework. He cited operations in other conflict-affected or unstable areas where business continuity and adherence to legal obligations remained central to strategy. The emphasis is on maintaining service levels and honoring commitments in difficult environments, while closely monitoring sanctions and regulatory developments that could affect future decisions. (TASS)
Historically, Accor has pursued a global footprint that includes markets facing political or security challenges, with governance practices designed to balance fiduciary duties with the ability to respond to evolving sanctions regimes and market conditions. The discussion around Russia underscores the company’s broader approach to risk, resilience, and long-term value creation for shareholders, employees, and customers alike. (TASS)