Vivendi chief executive Jean-Marie Messier survived his company’s AGM meeting yesterday afternoon, despite calls from minority shareholders and staff at Canal+ for his resignation (see Troubled Times For Vivendi’s Messier).
As expected the Vivendi board backed Messier and it is thought that he was able to convince shareholders that he has full control of company.
Good figures Messier’s position will have no doubt been aided by better than expected Q1 financial results from Vivendi’s Media & Communications division, also posted yesterday afternoon. EBITDA came in at E1.1 billion, up 18% year on year; analysts at ABN Amro had forecast earnings growth of 12.7%.
Organic growth at the group was 13.2% in the quarter, whilst revenue reached E7.1 billion, ahead of ABN’s E6.3 billion forecast.
