Vivendi Board Gives Go-Ahead For Business Split & Sets December Shareholder Vote
deadline.comVivendi‘s plan to split its business in three has gotten board approval and will be taken to a shareholder vote on December 9.
Should it go ahead, it appears former Paramount Global CEO Bob Bakish will take a seat on the Canal+ board. The board has approved the resolutions that will be submitted to shareholders to vote on whether Canal+, ad business Havas and publishing house Louis Hachette Group should separate.
Should the demerger go ahead, Canal+ will begin trading with debts of €400M ($433M) and have a corporate team led by Yanick Bolloré, Chairman of the Supervisory Board, and Maxime Saada, Chairman and of the Management Board and CEO.
Jacques du Puy and Anna Marsh will both be Deputy CEO, and Amandine Ferré will be CFO. Board members will include Bolloré, Arnaud de Puyfontaine and, intriguingly, Bob Bakish, who has been lying low since his exit from Paramount earlier this year in April.
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