The Lagardère group announced Wednesday that its supervisory board had "
welcomed
" the project to transform into a limited company, which will cause its boss Arnaud Lagardère to lose absolute control of the group inherited from his father.
Read also: Lagardère: losses and questions about his future
In a press release, the group that owns Hachette Livre and several media including Europe 1 and Paris Match indicates that the main shareholders have "
committed to vote in favor of the transaction
" at a general meeting of shareholders scheduled for 30 June: he notably concluded with the Amber Capital fund, which was battling for changes in governance, "
a transactional agreement putting an end to the various procedures which opposed them
".
Highlighting “
managerial continuity
”, the project provides that Arnaud Lagardère, currently managing partner, will be appointed CEO for a period of six years.