Chairman Fourtou to retire after Vivendi restructuring- newspaper
Chairman Jean-Rene Fourtou said he intended to retire after French telecommunications firm Vivendi would complete its split in two separate units. This was revealed in an interview on the Le Monde newspaper today. Fourtou told Le Monde, "I want to leave Vivendi in a stronger position so the company can make a new start with a more flexible, more focused structure. I'll leave when a split of Vivendi into two segments is complete."
Fourtou told the newspaper that Vivendi was still mulling on whether they would prepare its SFR phone business for an IPO or separate their media units to form a new a structure. He said the firm is already deliberating on how its record label Universal Music Group, pay-TV provider Canal Plus and Brazil-based Internet business GVT would be split into two separate companies.
Fourtou also told Le Monde that he was thinking of giving his post to Vice Chairman Vincent Bollore upon his retirement.