Bolloré, who also serves as CEO of the Bolloré Group, held a substantial stake of 18.5% in UMG as of December 31, 2024. His departure comes in the wake of a recent ruling by France’s securities regulator. The regulator mandated that the Bolloré Group must buy out shareholders of the former Vivendi company, which underwent a separation last year. This decision followed an earlier blockage by the French regulator on the Bolloré Group’s proposed buyouts of three subsidiary companies.

UMG stated that bolloré’s resignation is intended to allow him to “focus his time and energy on the Bolloré Group.” Despite his resignation from the board, UMG emphasized that Bolloré “remains strongly supportive of UMG’s management team and strategy.” The UMG Board expressed its gratitude for Bolloré’s contributions to the company.

Cyrille Bolloré, son of vincent Bolloré, was initially appointed as a non-executive director to UMG’s board in May 2022 and was reappointed for a second term in may 2024, which was set to conclude next spring. During his tenure, he served on UMG’s remuneration committee as a non-self-reliant director.

The Bolloré Group is a globally recognized family-controlled holding company with diverse investments spanning oil logistics,communications,and industrial sectors,including the production of ultra-thin films and electricity storage solutions.