Arnaud Lagardère, CEO of the eponymous group on the verge of being absorbed by Vivendi, has been appointed CEO of Hachette Livre, its subsidiary specializing in publishing, according to a statement published on Wednesday, November 8th.
“At the time of the merger of the Lagardère group with Vivendi, I wanted to show my historical and visceral attachment to this book industry,” emphasized Mr. Lagardere, specifying that he retained his position as CEO within the Lagardère company.
Hachette Livre, with publishing houses such as Grasset, Fayard, Le Livre de poche, or Hatier, is a heavyweight in the publishing industry. It is number one in the sector in France and number three worldwide, with two-thirds of its activity being carried out outside of France. It is still owned by the Lagardère group, which Vivendi is expected to buy soon after a successful public takeover bid.
To acquire Lagardère, Vivendi had to sell Editis
This large-scale operation results in a redistribution of the cards in the French publishing sector. The European Commission had opposed the idea of the parent company of Canal+ and Havas owning both Hachette Livre and Editis. Vivendi therefore chose to sell Editis in its entirety to Czech businessman Daniel Kretinsky, allowing him to enter this market. At the end of October, Brussels approved this transaction.
At the head of Hachette Livre, Arnaud Lagardère succeeds Pierre Leroy. The latter had been appointed in March 2021 to replace Arnaud Nourry, who was removed from his position after eighteen years with the company for opposing the merger with Vivendi. However, Mr. Leroy will remain within the Lagardère group as Deputy CEO.
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