French casino group and luxury hotel player Lucien Barrière is rejuvenating its governance.
The group, which celebrated its 110th anniversary last year, has announced, via a press release, the forthcoming arrival at its head of Alexandre Barrière, aged 36 and son of the current CEO, Dominique Desseigne.
Mr. Barrière will be appointed Chairman of the Société de participation deauvillaise (SPD), the family holding company that owns 60% of Groupe Lucien Barrière (GLB). In addition, Alexandre Barrière will hold, “in concert with the family, a 60.51% stake in the capital of Société fermière du casino municipal de Cannes (SFCMC)” and “has a vocation to hold all of the family’s shareholdings”.
“The family has agreed to a change in the group’s governance and the terms of its shareholding”, the statement said.
Joy Desseigne-Barrière, Dominique Desseigne’s daughter and Alexandre’s sister, will be appointed chairman of the board of SFCMC and Société Immobilière et d’Exploitation de l’Hôtel Majestic (SIEHM). The appointment of this 32-year-old woman “will be subject to the approval of their boards of directors”.
