>Club Med Strengthens Giscard’s Position With Board Appointments

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>July 24 (Bloomberg) — Club Mediterranee SA bolstered the position of the resort company’s top executive, Henri Giscard d’Estaing, by naming representatives of shareholders supportive of his strategy to the board.
Club Med said late yesterday that it appointed nominees of Caisse des Depots et de Gestion du Maroc, the Benetton family and lender Credit Agricole to the board. The shareholders have all given their backing to Giscard, who has been accused by French investor Bernard Tapie of squandering shareholders’ money. Club Med is suing Tapie, who bought 1 percent of the company’s shares last month, for spreading false information.

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