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PARIS, March 7 French media giant Vivendi
said on Tuesday it would cut the number of its
supervisory board members from 14 to 12, effectively increasing
the grip of chairman Vincent Bollore on the group.
Independent board members Yseulys Costes, Pascal Cagni and
Alexandre de Juniac decided not to renew their four-year term in
April, Vivendi said in a statement.
A spokeswoman said two of them would not be replaced. This
would cut the number of independent board members from 9 to 6.
Vivendi's employee shareholders, who hold a 3.27 percent
stake in the company, elected Sandrine Le Bihan, to be their
representative at the supervisory board, replacing one of the
All these decisions depend on formal approval at an annual
shareholders' meeting due on April 25
Bollore, who became chairman in 2014, is Vivendi's biggest
shareholder with a 20.65 stake according to Reuters data. Two
other board members represent Bollore's interests, including his
son Yannick, who leads the advertising group Havas.
(Reporting by Mathieu Rosemain and Gwenaelle Barzic)