Euro Disney Exec to Head Club Med

Resort company Club Mediterranee named Philippe Bourguignon, the chairman who turned Euro Disney into a moneymaking success, as its new chairman. Grand Cayman-based Club Med, which pioneered the concept of all-inclusive vacations at friendly “villages,” said it would report a loss of $130 million for the year ending Oct. 31, 1996, after taking $144.3 million in restructuring charges. Club Med said in October that weak vacation spending would hurt its results, but analysts were still predicting a profit for 1995-96. Bourguignon turned Euro Disney into a top tourist draw that has made money for two consecutive years after running up huge losses since it opened in 1992. Walt Disney Co. owns 39% of Euro Disney.