×
32 361
Fashion Jobs
ROSS STORES
Store Protection Specialist
Permanent · La Habra
L BRANDS
Asset Protection Officer, Morse rd (2nd Shift 3pm - 11pm)
Permanent · Columbus
BATH & BODY WORKS
sr. Manager, Carrier Strategy
Permanent · Columbus
VICTORIA'S SECRET
Brand Operations Manager-Crystal Mall
Permanent · Waterford
L BRANDS
Asset Protection Officer, Morse Crossing - 3rd Shift (11pm-7am)
Permanent · Columbus
VICTORIA'S SECRET
Brand Operations Manager-Coconut Point
Permanent · Estero
BATH & BODY WORKS
District Manager - Bath & Body Works - North Austin - Austin, tx
Permanent · Waco
VICTORIA'S SECRET
Brand Operations Manager-Valley West
Permanent · West Des Moines
L BRANDS
Asset Protection Officer, Broad st -1st Shift 7am-3pm
Permanent · Reynoldsburg
L BRANDS
Asset Protection Officer, New York City
Permanent · New York
BATH & BODY WORKS
Senior HR Generalist - Home Office
Permanent · Reynoldsburg
VICTORIA'S SECRET
Brand Operations Manager-White Marsh
Permanent · Baltimore
VICTORIA'S SECRET
Asset Protection Investigator, Victoria's Secret (Southland Mall - Hayward, ca)
Permanent · Sacramento
PINK
Brand Operations Manager-Solano
Permanent · Fairfield
VICTORIA'S SECRET
Product Owner
Permanent · Reynoldsburg
ESTÉE LAUDER COMPANIES
Manager, Creative Operations, Creative Content Hub, North America
Permanent · New York
ESTÉE LAUDER
Director, Ecommerce, North America - dr.Jart+
Permanent · New York
JCPENNEY
Product Manager - Site Management Tools & Cms
Permanent · Plano
JCPENNEY
Financial Planning Senior Analyst - Stores Finance
Permanent · Plano
JCPENNEY
Central Investigations, Crisis Response / Remote Monitoring Technician - Asset Protection
Permanent · Plano
FOOT LOCKER
Senior Product Manager (Membership)
Permanent · Chicago
FOOT LOCKER
Security Guard
Permanent · New York
By
AFP
Published
Apr 28, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

France's Lagardere gives up grip over family firm

By
AFP
Published
Apr 28, 2021

French billionaire Arnaud Lagardere has agreed to relinquish control over his media empire, which includes the Hachette publishing house, under pressure from investors and influential business tycoons.




The Lagardere group includes Hachette, the Relay chain of airport and railway station newsagents, as well as Paris Match magazine, Europe 1 radio station and other media outlets.

Arnaud Lagardere had for years resisted attempts by British hedge fund investor Amber Capital to loosen his grip on the company he has run since the death of his father Jean-Luc in 2003.

While only holding seven percent of shares following years of selling his stock, Lagardere retained veto power over the group under an arcane legal structure that acted as a shield against takeover attempts.

But on Wednesday the Lagardere group said that its supervisory board had "positively received" a proposal to abolish the structure, handing power to shareholders in line with their shareholdings.

As well as Amber Capital, rival French tycoons Bernard Arnault of the LVMH luxury goods conglomerate and industrialist and media magnate Vincent Bollore have built up stakes in the group.

French media have speculated about a breakup of the Lagardere empire, with Arnault and Bollore competing to buy parts of the business.

The changes to the company's corporate governance will be put to a vote at a board meeting on June 30.

Under the reform, Arnaud Lagardere will remain CEO of the company for six years and will receive a payout in new shares equivalent to about 7 percent of the group's capital, the company said.

"I am sincerely very, very happy about this turn of events. It's a change that I wanted and for which I take responsibility, without qualms or regrets," Lagardere said in a phone-in press conference.

Lagardere has been hard hit by the Covid-19 pandemic, which has decimated its travel retail revenues.

In January, it received a nearly half-a-billion-euro rescue package underwritten by the French state.
 

Copyright © 2021 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.

Tags :
Others
Media