French owner of Orient Express claims pulling out of russia is ‘not an option’
Sébastien Bazin said there is “no legal basis for pulling the plug” on Accor’s business in russia and that his fiduciary duty to make money for shareholders holds sway.
Accor, which also owns the Ibis, Mercure, Sofitel, and Raffles chains, is the largest hotel operator in the country.
Read more here🔗 https://www.msn.com/en-gb/money/other/french-owner-of-orient-express-claims-pulling-out-of-russia-is-not-an-option/ar-AA17TL9Z
#Ukraine 🇺🇦 #SlavaUkraine #RussiaIsATerroristState
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@EugeneMcParland Well, he's doing what he was hired to do, maximize cash in pocket for shareholders. Hundreds of thousands or millions of ordinary people like me put him in as CEO to do exactly this.
I don't like it. It's not how companies were run in the 1960s when I first got into investing. But it's how big corporations operate today.
The ability for many millions of ordinary people, single-moms without a lot of cash, to invest in the market, through platforms like Robinhood, have created this. Today's shareholders want their return, or else they'll fire him and get someone who delivers.
