Group general counsel and board secretary | Accor
Besma Boumaza
Group general counsel and board secretary | Accor
Team size: about 130
What are the most significant cases and/or transactions that your legal team has recently been involved in?
Accor has recently undergone a major reorganisation that involved the huge task of creating two divisions. This required the creation of legal entities across the globe, and the transfer of hundreds of contracts, people, and other assets.
Two years ago, Accor decided to sponsor the first European Corporate Special Purpose Acquisition Company (SPAC) – the first one listed on Euronext Paris – and I was the chief legal officer of this company. The legal team was involved in fund-raising activities, the IPO, and the search for a target. As the SPAC did not have a suitable target to acquire, it is being liquidated.
Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?
Accor implemented a new contract lifecycle management tool that will help store and manage our contracts during their whole lifecycle. We are also implementing a global contracting policy that will improve the ownership of the contracts by the operational teams, while reducing the risks.
What are some of your main tips for dealing with a crisis?
Stay calm! Always look forward, at the after-crisis. Never stop being positive.
How important is choosing to work with external lawyers who align with your company’s values? Are you likely to reconsider what firms you work with based on this?
I consider the skills and personalities of individual lawyers (and their teams) rather than the entire law firm. I always aim to work with expert lawyers that are business oriented, and nice to work with.
Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most?
We are working on contract automatization using artificial intelligence. This will definitely afford lawyers the ability to spend less time on tasks that generate less value.
As we enter the next decade, what skills will a corporate legal team need to succeed in the modern in-house industry?
A good understanding of the business model, financial impacts, as well as the ability to use new tools are qualities in-house legal teams will need to possess to succeed in the modern in-house industry.
How do you suggest in-house lawyers build strong relationships with business partners?
Through transparent and good governance, and by explaining the added value of a good in-house lawyer, in-house lawyers and business partners will be able to develop solid relationships. However, I feel this has already improved.