Henri Giscard d'Estaing said on 16 July he has been "forced to end" his functions as president of Club Méditerranée after the company’s controlling shareholder, China’s Fosun, installed a new chair without his agreement. The move ends a 22-year tenure that began in December 2002 and saw the French leisure group shift up-market while expanding in Asia. Giscard d'Estaing, 67, told staff he had sought a six-month transition but was overruled, adding that the Shanghai-dominated board "has little international experience" and no longer reflects Club Med’s French roots. He has pressed for the company to relist in Paris to diversify its shareholder base; Fosun said last month it was reviewing "strategic and financial options" but ruled out an initial public offering for now. Club Med, which celebrates its 75th anniversary this year, was taken private in March 2015 when Fosun completed a contested takeover. The abrupt leadership change underscores lingering tensions between the Chinese conglomerate and the resort operator over governance and strategic direction.