Vivendi CEO Jean-Bernard Levy Steps Down
June 29, 2012 at 3:53 AM (PT)
There's been a change at the top of UNIVERSAL MUSIC GROUP's parent company, VIVENDI SA. THE WALL STREET JOURNAL reports, "a rift over the future of VIVENDI SA led to the departure of the company's chief executive on THURSDAY."
CEO JEAN-BERNARD LÉVY resigned after a board meeting THURSDAY afternoon, following a "divergence of views on the strategic development of the group," according to a company release. General Counsel JEAN-FRANÇOIS DUBOS will assume his role, effective immediately.
THE JOURNAL notes, "LÉVY, who has been with VIVENDI for a decade, is being squeezed out as the board has slowly shifted its view to believe the company's assets may need to be sliced off, or even split apart altogether, according to the people familiar with the matter."