The chairman of the supervisory board of French media and telecoms giant Vivendi has said he plans to step down after the company completes the demerger of local mobile unit SFR.
Jean-Rene Fourtou, who had chaired the board since 2005, said in an…
The chairman of the supervisory board of French media and telecoms giant Vivendi has said he plans to step down after the company completes the demerger of local mobile unit SFR.
Jean-Rene Fourtou, who had chaired the board since 2005, said in an interview with Le Monde that Vivendi needs to choose management teams for the two components it will be divided into: SFR and the media and content business.
“SFR was entrusted to Jean-Yves Charlier, who is doing excellent work,” he said. “On the other hand, we have to find someone to manage the content and media business on the understanding that neither I nor the current chairman of the management board [Jean-Francois Dubos] will remain.”
Fourtou explained that he wants to leave Vivendi in a stronger position, with a more focussed and flexible structure.
He said he would support the appointment of supervisory board vice chairman Vincent Bollore, who has a 5% stake in Vivendi, to replace him as chairman of the content and media business. The final decision rests with the board itself.
Bollore reportedly floated his own name as a Vivendi CEO candidate in September following clashes with Fourtou over the future of the company. Bollore later agreed to pull out in exchange for his appointment as vice chairman and Fourtou agreeing to resign by mid-2014.
In September, Vivendi said it would decide by early 2014 whether or not to separate SFR from the rest of the group. The potential spinoff forms part of a wider restructuring, which has also seen Vivendi enter into exclusive talks to sell its stake in Maroc Telecom for and decide to sell most of its interest in US gaming company Activision Blizzard.
