CLUB Med chairman Philip Bourguignon has quit the
company at the same time as the group posted a full-year loss of £40 million.
Managing director Henri Giscard d’Estaing will take
over the role, following recommendation by Bourguignon and board approval.
Total revenues for 2002 were £1 billion, a 12% drop on
the previous year.
The group said it will focus on developing its brand
values, starting with a marketing campaign launched this month boasting the
slogan of “Incomparable Club Med”.