HILVERSUM, Netherlands (CelebrityAccess) — Universal Music Group N.V. announced that Non-Executive Director Cyrille Bolloré has notified the company that he has resigned from UMG’s Board of Director, effective immediately.
According to UMG, Bolloré, a well-known French business leader and philanthropist, stepped down from his board role in order to focus full time on his family business, the Bolloré Group.
Bolloré oversees Bolloré’s global operations, with strategy focused on expanding the transport and logistics sector, particularly in Africa, and restructuring its media holdings including stakes in Vivendi and Universal Music Group while his brother Yannick leads Vivendi.
“Mr. Bolloré remains strongly supportive of UMG’s management team and strategy. The UMG Board is very grateful for Mr. Bolloré’s contributions to the Company,” UMG said in a statement announcing his exit from the board.
