French media mogul resigns after getting charged with embezzlement [Fortune]
VIVENDI SE UNSP/ADR (VIVHY)
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Source: Fortune
The charges against the 63-year-old executive also include vote buying, abuse of power and breach of trust, disseminating false or misleading information and failure to publish accounts, according to a person familiar with the matter. He has been placed under judicial supervision, banned from holding executive roles and needs to post a bond of €200,000 ($214,000), said the person, who asked not to be named discussing a legal case. Lagardère, who is chairman and CEO of Lagardère SA, informed the board that he was forced to resign as CEO following the indictment and provisional ban from management activities issued against him on April 29, the listed company said in a statement . Jean-Christophe Thiery was appointed as chairman and CEO on a provisional basis to ensure business continuity. Lagardère “is contesting these decisions and intends to lodge an appeal against them.” “This indictment essentially concerns facts relating to personal companies wholly owned by Arnaud Lagardère a
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