Maitre dethroned

摘要

Asense of self-importance and a talent for self-publicity are not usually handicaps in the media world. But, after Jean-Marie Messier at last quit Vivendi Universal this week, the debt-laden sew-age-to-Hollywood group of which he was chairman and chief executive, he conceded not only that he had done "a bit too much, a bit too quickly" but that his media profile had been "excessive". The man who embraced his nickname J6M―Jean-Marie Messier, Moi-Meme, Maitre du Monde―e-mailed disillusioned staff on July 2nd to confirm that he had, with "infinite sadness", resigned. His successor, Jean-Rene Fourtou, previously vice-chairman of Aventis, a Franco-German drug company, was confirmed at a board meeting the next day. The assault on Mr Messier was led by the company's North American shareholders, pushed by the Bronfman family, the value of whose 5.05% stake in Vivendi has shrivelled from EUD3.37 billion ($3.0 billion) at the beginning of the year to EUD979m today. But it was the belated decision by the French board members to ditch him that sealed his fate. One key actor, Claude Bebear of AXA, joined the board this week. Mr Messier's eviction also bore the mark of the French political right, now firmly back in power and fearful for the future ownership of particular bits of the business-telecoms, utilities and Canal Plus, a pay-television operation.