Arnaud Lagardère resumes the position of chairman after an objection to the management ban

Arnaud Lagardere, who left his executive role as chairman and CEO of listed French media conglomerate Lagardere on April 29 after being indicted for embezzlement, is back at the helm of the company.

Lagardere had been provisionally barred from holding executive office by a Paris court and accused by French prosecutors of “embezzling company funds.” His lawyers, Sébastien Schapira and Dimitri Grémont, subsequently appealed the decision and were able to “obtain the partial lifting of the ban on management activities” on June 28, the Lagardere Group said in a press release.

Vivendi, the parent company of Canal+ Group, owns a controlling stake in the company, which includes radio stations, stores and publishing houses, including Paris Match magazine and radio station Europe 1. Hachette is Lagardere’s best-known subsidiary internationally and has published blockbuster titles, including the series “Twilight” by Stephanie Meyer.

Commenting on his comeback, Lagardere thanked Jean-Christophe Thiery who had served as interim CEO and chairman (and is also chairman of the supervisory board of Canal+) and said he was “obviously delighted to take on (his) position as Chief Executive Officer of Canal+ to resume. the Group that bears (his) name and to be reunited with the talented teams that I now have the privilege of leading to future success.”

He also thanked the directors of Lagardère SA and the shareholders, “in particular our largest shareholder, the Bolloré family – for their trust, support and continued concern for the good governance of the Group and the smooth continuation of its activities in the interests of all stakeholders. , and in particular its employees.”

Vivendi completed its acquisition of Lagardere in the second half of 2023 after resolving antitrust concerns that prompted the group to sell its other publishing group Editis and Gala magazine, a flagship title of Prisma Group. Lagardere, seen as Vivendi’s new crown jewel, saw its revenue rise 16.6% in 2023, driven by its travel retail and publishing activities.

With operations in more than 40 countries around the world, Lagardere employs approximately 31,300 people and generated sales of more than 8 billion euros ($8.5 billion) in 2023.