PARIS Dec 13 Vincent Bollore, a French
industrialist and tycoon, will join the board of
entertainment-to-telecom group Vivendi in which he is
the second-biggest shareholder.
Bollore's appointment will need to be ratified at the
company's next shareholder meeting, Vivendi said in a statement
The appointment, which had been expected and is likely to be
approved by shareholders, may stoke investors' hopes that
Bollore can influence Vivendi's ongoing strategy review.
Vivendi is working on selling assets, including telecom
units in Brazil and Morocco, in an effort to reduce debt and
streamline a conglomerate structure that has weighed down the
Bollore is also expected by investors to back Vivendi's
effort, now led by chairman Jean-Rene Fourtou, to reduce its
exposure to the capital-intensive telecom business, while
beefing up in music and pay-TV.
Bollore will replace outgoing director Jean-Yves Charlier,
who was named director of the group's telecom activities in
October, Vivendi said.
Pascal Cagni, the former general manager for Apple
in Europe, Middle East, India and Africa, was also appointed as
an attending director of Vivendi's board.
Cagni's name had circulated among people close to the group
over the summer as a potential candidate to replace the prior
chief executive, who left in June over disagreements about the
(Reporting by Laurence Frost and Leila Abboud; Editing by
Christian Plumb and Elaine Hardcastle)