Mohamed Al-Fayed steps down as chairman of Ritz hotel in Paris

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Egyptian billionaire Mohamed Al-Fayed has announced he is stepping down as chairman at the Ritz hotel in Paris The 90-year-old businessman bought the landmark hotel in 1979 and will retain ownership of the establishment despite removing himself from the board of directors Fayed's son Dodi and Princess Diana set off from the Ritz on the night they were both killed in a Parisian car crash in 1997 Scroll down for video Mohamed Al-Fayed bought the famous hotel in Paris back in 1979 and has ended his 40 year tenure as chairman The hotel, pictured on the day of Diana's death, was the place Fayed's son Dodi and the Princess of Wales set off from before their crashHis wife Heini Wathen and son Omar are reportedly also no longer directors A spokesperson for the Ritz Paris told the Mirror: 'After decades of continuous involvement, Mr Al-Fayed has decided it was time to pass his duties as chairman on ' But a spokesman insisted the family 'retain full ownership'. Diana and Dodi died on August 31, 1997, along with driver Henri Paul, who was the Ritz's acting head of security, while they were being chased by paparazzi RELATED ARTICLES Previous 1 2 Next Paris will name a square after Princess Diana near the site Princess Diana's death crash was NOT an accident and two. National Enquirer Live! Inside the theme park that turns Share this article Share Mr Al-Fayed believes the couple would have married, and has previously stated that they were murdered He famously bought Harrods in London six years after the Ritz, selling it in 2010 for a reported £1 5billion.The Ritz in London is owned by another firm. Diana, Princess of Wales with Dodi Fayed inside the Ritz Hotel on the night of their deaths in 1997

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Mohamed Al-Fayed steps down as chairman of Ritz hotel in Paris

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