CEO Of Vivendi's SFR Unit Steps Down; Replaced By Vivendi CEO
27 March 2012 - 3:57AM
Dow Jones News
Frank Esser, chief executive of French mobile telephone operator
SFR, a unit of Vivendi SA (VIV.FR), is to step down and will be
replaced by Vivendi's CEO, Jean-Bernard Levy, the company said
Monday.
In a statement, Vivendi said that Frank Esser will leave SFR,
with Jean-Bernard Levy taking over his responsibilities with
immediate effect, while remaining chairman of the management board
and CEO of Vivendi.
The company added that "the outstanding work performed by Frank
Esser and his teams have enabled SFR to become the largest
alternative telecoms operator in France and even in Europe."
Levy recently said he expects SFR's operating margin to fall
this year as a result of the competition from Iliad SA (ILD.FR),
which launched its mobile telephone services in January
significantly undercutting rivals' prices. The company lost 200,000
customers in the first weeks following Iliad's entry on the
market.
-By Nadya Masidlover, Dow Jones Newswires; +33 1 4017 1740;
nadya.masidlover@dowjones.com
(Inti Landauro contributed to this article.)
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