Vivendi SA Chief Executive Officer Jean-Bernard Levy’s ouster, triggered by a clash with the board over strategy, clears the way for a potential reorganization of Europe’s biggest media and telecommunications company.
Jean-Bernard Levy, the Vivendi SA chief executive officer who has resisted investor calls for a reorganization to revive a stock trading near a nine-year low, is preparing to step down, said people familiar with the matter.
Vivendi SA Chief Executive Officer Jean-Bernard Levy ’s 7.95 billion-euro ($11.3 billion) SFR deal, his largest, gives him full ownership of the company’s biggest cash generator and completes a decade-long effort to break from its messy past.
Vivendi SA ’s Universal Music Group, home to artists such as Lady Gaga and Mariah Carey , is targeting broadband users in emerging markets like Brazil by signing deals with phone providers there to carry online music services.
Thales SA, Europe’s biggest defense electronics maker, named Jean-Bernard Levy as chief executive officer to succeed Luc Vigneron, who was ousted by the French state and Dassault Aviation SA, the primary shareholders.
Vivendi SA Chief Executive Officer Jean-Bernard Levy will have to show how he can stop customer defections to discounter Iliad SA as he takes over managing SFR almost a year after signing off on the 7.95 billion-euro ($10.6 billion) buyout of the French telecommunications unit.
Thales SA Chairman and Chief Executive Officer Jean-Bernard Levy, 10 weeks into the job, said he’s reviewing the regional and product focus at Europe’s biggest defense electronics company to improve profitability.