Cyrille Bolloré Resigns from UMG’s Group of Directors

Cyrille Bolloré has officially exited the board of Universal Music Group (UMG), where his family’s business maintains a sizable ownership interest.

The details:

• In a brief statement, UMG announced Bolloré’s departure had taken place “with immediate effect.”

• The timing could be related to the ongoing battle between the family’s company, Bolloré Group, and France’s financial regulator Autorité des marchés financiers (AMF).

• In July the AMF ordered Cyrille’s father, Vincent, to make a “public tender offer for Vivendi shares it doesn’t own in the next six months,” as per Music Business Worldwide.

• This could result in Vivendi being delisted from public markets.

• Bolloré SE is appealing the decision.

Ownership stake:

• As per Music Business Worldwide, the Bolloré Group owned an 18.5% stake in UMG at the end of 2024.

• It also held 29.3% of Vivendi, “which in turn owned approximately 10% of UMG’s issued share capital.”

• Therefore, via the Bolloré Group, Vincent Bolloré controls approximately 21.4% of Universal’s share capital.

Other notable moves:

• Cyrille Bolloré’s resignation follows that of Bill Ackman’s in mid-May, ostensibly because of his “other Pershing Square commitments.”

Share dip:

• As per Digital Music News, the market has responded poorly to news of Bolloré’s departure, with UMG shares dipping almost 7% to finish at $30.13/€25.99 a piece.