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Vivendi’s Levy Steps Down on Strategy Differences With Board

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Vivendi SA Chief Executive Officer Jean-Bernard Levy, who failed to revive the company’s stock from a nine-year low, will step down after strategy differences with the board.

Levy is departing after 10 years at the telecommunications and media company, including seven years at the helm, Paris-based Vivendi said in a statement today after a meeting of its supervisory board. General Counsel Jean-Francois Dubos was appointed to head the management board. Vivendi has hired a headhunter to look for a permanent CEO, said a person with knowledge of the matter who asked not to be named because the plan isn’t public.