Vivendi’s annual shareholders’ meeting has appointed Cyrille Bolloré as a member of its supervisory board for a four-year term and has renewed the appointment of Dominique Delport for the same period.
Cyrille Bolloré replaces his father Vincent, who has now stepped down. Bolloré senior had already stepped down as company chairman last year, to be replaced by another son, Yannick.
Bolloré, who also stepped down as chairman of pay TV operator Canal+ last year, remains chairman and CEO of Bolloré Group, which has interests in media and telecoms, including Vivendi, and major interests in electricity storage and solutions and transportation and logistics.
The board now comprises six women and five men, including five independent board members.
The shareholder meeting also approved Vivendi’s plan to convert itself into a European company. The media group generates 54% of its consolidated revenues, and currently employs 53% of its staff, in Europe, and Vivendi said the change would allow it “to align its corporate form with its economic and cultural European roots”.
The board approved a 2018 dividend of €0.50 per share, up 11.1% year-on-year.
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