Arnaud Lagardère Resigns as Head of Media Group Lagardère
Departure Ends Years of Family Control
Arnaud Lagardère has stepped down as chairman and chief executive of media group Lagardère, bringing an end to years of family control over the company.
Lagardère, 59, had been under pressure to resign after a series of shareholder revolts and a public dispute with his stepmother. He is the son of the late Jean-Luc Lagardère, who founded the company in 1972. Arnaud Lagardère has been at the helm of the company since 2003.
Lagardère's departure is a significant moment for the company, which owns a diverse portfolio of assets including magazines, newspapers, television stations, and book publishers. The company has been struggling in recent years, with its share price falling by more than 50% since 2018.
It is not yet clear who will succeed Lagardère as chairman and chief executive. The company's board of directors is expected to meet in the coming days to discuss the succession plan.
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