Departure comes on heels of disagreement over strategy with Vivendi's board of directors
Jean-Bernard Levy, the chief executive officer of Vivendi, will step down from the French media conglomerate, with an announcement possibly coming from Vivendi on Thursday, the Wall Street Journal reports.
Levy, 57, has been with the company for a decade.
The departure comes on the heels of a disagreement over strategy with the company's board of directors, a source told the Journal. Vivendi's board has been pushing for a change in how the company handles its assets, which include EMI's music division, Activision Blizzard and the French premium television channel Canal+. Levy has been a proponent of the status quo, contrary to some shareholders' wishes. According to the Journal, Vivendi's share price has fallen to a near-decade low recently.
Vivendi has not yet responded to TheWrap's request for comment.
According to the Journal, Vivendi's board and managers had a meeting in Paris last weekend over strategy. The company said following the meeting that it would have no announcements about the company's "necessary evolution," though it made no specific announcement about what that change would entail.
Also read: GE Begins NBCU Stake Buyback From Vivendi
Vivendi is reportedly preparing to bring French industrialist Vincent Bollore, a close associate of Vivendi founder Jean-Rene Fourtou, onto its board in the coming months.
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