Cyrille Bolloré Resigns from UMG’s Group of Directors

He will be focusing “his time and energy on the Bolloré Group”

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.

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.

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.