March 14, 2019 / 4:57 PM / 3 months ago

Billionaire Bollore replaced by son Cyrille as CEO of family-owned conglomerate

PARIS, March 14 (Reuters) - French tycoon Vincent Bollore was replaced by his son Cyrille as chief executive of the family-owned conglomerate, the eponymous group said on Thursday.

Bollore, 66, told the group’s board that he will not seek the renewal of his mandate as director, the group added.

“The board of directors thanked Mr Vincent Bollore for his work to develop Bollore over the last 38 years,” the conglomerate, which spans activities from transportation, logistics to media and electric batteries, said in a statement. (Reporting by Mathieu Rosemain and Gwenaelle Barzic; editing by Michel Rose)

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