Messier, chairman and CEO of the group that owns Universal Studios, Canal+ and is home to recording artists such as Sting and Limp Bizkit, only narrowly survived a vote of confidence last week. Now, those who had supported him only a few days ago are reportedly withdrawing their support.
Several reports have tipped Messier to be replaced by Jean-Rene Fourtou, deputy chairman of the pharmaceutical company Aventis.
Messier has masterminded the transformation of Vivendi from a staid utilities company to one of the leading media groups in the world. However, the company recently reported the largest loss in French corporate history -- €13.6bn (£8.84bn) in 2001 -- and its share price has taken a tumble to a 13-year low this year. Now company directors are seeing a new strategy for the company, in the face of €30bn debt.
One of its most high-profile directors, Bernard Arnault, who is chairman of LVMH, resigned last week.
Messier's reign was never without controversy and even the name of his autobiography is a nod to the fact he is acknowledged to have a huge ego. It is called 'J6M.com', which, in French, stands for "Jean-Marie Messier, myself, master of the world".
Shares in Vivendi Universal rose by 7.31% when trading began in France this morning to trade at €23.48.
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