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

Mohamed Al-Fayed has stepped down as chairman at the Ritz hotel in Paris.

The Egyptian billionaire, 90, bought the iconic site in 1979 and son Dodi and Princess Diana set off from it on the night of their fatal car crash in 1997.

He has now quit the board and wife Heini Wathen and son Omar are no longer directors.

But a spokesman insisted the family “retain full ownership”.

A statement from the Ritz Paris added: “After decades of continuous involvement, Mr Al-Fayed has decided it was time to pass his duties as chairman on.”

Diana, Princess of Wales with Dodi Fayed in CCTV from the Ritz Hotel taken in the run-up to the fatal crash in Paris in 1997 (PA)

A statement from the Ritz Paris said: “After decades of continuous involvement, Mr Al-Fayed has decided it was time to pass his duties as chairman on" (REX/Shutterstock)

The Mercedes Diana and Dodi died in was driven by Henri Paul, the Ritz’s acting head of security, who was also killed.

Mr Al-Fayed 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.