Word: messieres
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...giving her control. Turning Each Other On The U.K.'s two largest commercial broadcasters, Carlton and Granada, agreed on merger plans to create a new company worth over $4 billion. The deal will face strict regulatory scrutiny. There's No Place Like Home Further undoing former CEO Jean-Marie Messier's strategy, Vivendi is moving control from New York back to Paris. Vivendi will also finalize its €12 billion disposal plan this week. Growing Pings HSBC continued its international expansion, buying a 10% stake in China's No. 2 insurer, Ping An, for $600 million. INDICATORS Chocolate Prices...
Even Jean-René Fourtou, Vivendi's new CEO, seems puzzled. "We can continue to build an international media and communications company," he wrote to investors last week, but "with what strategy?" There may be order behind his confusion - Vivendi's last CEO, Jean-Marie Messier, was criticized for depressing the price of assets he planned to sell by broadcasting his intentions. As Fourtou sells j10 billion in assets to service Vivendi's debt, that's not a mistake he can repeat. Yet he must also be genuinely perplexed by his options. "My sense is that they would like...
...first to come to grief over his Anglo-Saxon ambitions was Jean-Marie Messier, a Frenchman equally at home in New York as in Paris. Messier was forced out as chief executive of entertainment giant Vivendi Universal last month because he ran up huge debts in a spree of expensive media acquisitions, among other sins...
...remove a company from the influence of the government? "The interference of politics was completely wrong," said Michael Rogowski, president of the Federal Association of German Industry. At least Sommer has the consolation that he is not alone among embattled European CEOs. Only three weeks ago, Jean-Marie Messier was removed as chief executive of French media giant Vivendi, where a string of acquisitions had left the company with a pile of debt and a slumping share price. France Télécom chairman Michel Bon is also under pressure because of high debts. In the past, Europe...
There was no shortage of irony as Bronfman helped wrest Vivendi away from chief executive Jean-Marie Messier. After all, like Messier, Bronfman always came across as a bit of a dilettante and star-struck CEO. At Universal he once sent a memo to studio executives saying he expected to have double-digit earnings growth every quarter, a virtual impossibility in such a hit-driven industry...