Cyrille Bolloré, a major shareholder and board member of Universal Music Group (UMG), has stepped down from UMG’s board of directors, effective immediately.
UMG announced the news Monday, stating that Bolloré will now focus his time and energy on leading the Bolloré Group, the multinational conglomerate he chairs and serves as CEO.
As of December 31, 2024, the Bolloré Group owned 18.5% of UMG’s stock, making it one of the company’s largest shareholders. Bolloré also sits on the supervisory board of Vivendi SE, another key UMG stakeholder with roughly 10% ownership.
Bolloré’s departure comes shortly after French regulators ordered the Bolloré Group to buy out shareholders of the original Vivendi company, which split in 2024.
French authorities had previously blocked the group’s efforts to consolidate three companies under its control, adding regulatory pressure to the conglomerate’s operations.
Despite stepping down, UMG said Bolloré remains a strong supporter of its leadership and strategy. “The UMG Board is very grateful for Mr. Bolloré’s contributions to the company,” the statement said.
Originally appointed in May 2022, Bolloré was reappointed to UMG’s board in May 2024 for a second term that was expected to run until spring 2026. He served as a non-independent director and a member of the remuneration committee.
The Bolloré Group, founded by his family and ranked among the world’s top 500 companies, has interests in oil logistics, media, ultra-thin film technology, and electric battery storage.
