Vivendi: '10 Q1 Meets Expectations
Names Lucian Grainge To Vivendi Board
April 29, 2010 at 11:04 AM (PT)
VIVENDI SA, parent company of UNIVERSAL MUSIC GROUP, announced that business in the first quarter of 2010 was in line with expectations, reports the WALL STREET JOURNAL. The conglomerate also forecast a modest increase in profits for the full year.
VIVENDI CEO JEAN-BERNARD LEVY told shareholders at the annual meeting that VIVENDI expects slight growth in adjusted earnings before interest and tax for 2010. It also reported that UMG's adjusted EBIT rose 3.6% in 2009.
Financial details for Q1 were not revealed.VIVENDI reports full first-quarter results on MAY 11th.
Grainge Gets a Seat On The Board
VIVENDI has appointed UMG Co-CEO LUCIAN GRAINGE to the VIVENDI MANAGEMENT BOARD, joining Chairman JEAN-BERNARD LEVY, BERTRAND MEHEUT, FRANK ESSER, ABDESLAM AHIZOUNE and PHILIPPE CAPRON. He will fully assume the CEO post on JAN. 1st 2011, succeeding DOUG MORRIS, who will remain as Chairman.
GRAINGE started his career with CBS/APRIL MUSIC in 1979, advancing to positions in A&R and talent development, and rising to senior management positions at POLYGRAM UK and UNIVERSAL MUSIC internationally.