Euro Disney chief moves to Club Med
Saturday 22 February 1997
His departure comes just two weeks after Euro Disney's finance director Xavier de Mezerac also left unexpectedly. "It is great news for Club Med and a disaster for Euro Disney," according to Nigel Reed, analyst at Paribas Capital Markets.
The appointment should help to boost Club Mediterranee which yesterday announced a surprise loss of Ffr 743m (pounds 81m) for the year to last October, including a restructuring charge of Ffr 820m francs.
Analysts had been expecting a modest profit of Ffr 50m francs. Club Med shares have fallen by one third over the last year and were suspended on the Paris Bourse yesterday ahead of the announcement.
Mr Bourguignon was only recently appointed an executive vice-president of Walt Disney Co Europe.
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