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Mohamed Al-Fayed bought the famous Paris hotel in 1979 and has ended his 40-year term as president

Mohamed Al-Fayed, 90, resigns as president of the Ritz hotel in Paris – from which Princess Diana and his son Dodi departed on the night of their fatal crash

  • Fayed, 90, bought the hotel in 1979 and resigned from the board
  • His family claims that they will still remain the owners of the center of Paris
  • His son Dodi and Diana left the Ritz on the night of their crash in 1997
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The Egyptian billionaire Mohamed Al-Fayed has announced that he will retire as chairman of the Ritz hotel in Paris.

The businessman bought the monumental hotel in 1979 and retains ownership of the site despite being removed from the board of directors.

Fayed & # 39; s son Dodi and Princess Diana left the Ritz on the night they were both killed in a 1997 Paris car accident.

It is unclear why Fayed has decided to abandon the company, but the 90-year-old is now leaving the hotel in the hands of his directors.

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Mohamed Al-Fayed bought the famous Paris hotel in 1979 and has ended his 40-year term as president

Mohamed Al-Fayed bought the famous Paris hotel in 1979 and has ended his 40-year term as president

The hotel, pictured on the day of Diana 's death, was the place where the son of Fayed, Dodi and the Princess of Wales, left for their crash.

The hotel, pictured on the day of Diana 's death, was the place where the son of Fayed, Dodi and the Princess of Wales, left for their crash.

The hotel, pictured on the day of Diana 's death, was the place where the son of Fayed, Dodi and the Princess of Wales, left for their crash.

His wife Heini Wathen and son Omar are said to have also left the board.

A spokesperson for the Ritz Paris told MailOnline: & # 39; After decades of continuous involvement, Mr. Al-Fayed has decided that it was time to continue his duties as chairman. & # 39;

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But a spokesperson insisted that the family retain & # 39; full ownership & # 39 ;.

Diana and Dodi died on August 31, 1997, along with director Henri Paul, who was the head of the Ritz security service, while they were being chased by paparazzi.

Mr. Al-Fayed thinks the couple would be married and has previously stated that they were murdered.

He bought the famous Harrods in London, six years after the Ritz, and sold it in 2010 for a reported £ 1.5 billion.

The Ritz in London is owned by another company.

Diana, Princess of Wales with Dodi Fayed at the Ritz Hotel on the night of their death in 1997
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Diana, Princess of Wales with Dodi Fayed at the Ritz Hotel on the night of their death in 1997

Diana, Princess of Wales with Dodi Fayed at the Ritz Hotel on the night of their death in 1997

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