Arnaud Lagardère has a new role as a business manager. The boss of the eponymous group, on the verge of being absorbed by the media giant Vivendi, has been appointed CEO of Hachette Livre, its subsidiary specializing in publishing, according to a press release published Wednesday.
“At the time of the merger of the Lagardère group with Vivendi, I wanted to show my historical and visceral attachment to this book profession”, underlined Arnaud Lagardère in this press release, specifying that he also retained his mandate as CEO of the group which bears his name.
The world number 3 in publishing
Hachette Livre, with houses like Grasset, Fayard, Livre de Pocket and Hatier, is a publishing heavyweight. It is number one in the sector in France and number three worldwide, with two thirds of its activity carried out outside France.
It is still in the hands of Lagardère, which Vivendi must soon swallow at the end of a successful public purchase operation. This large-scale operation gives rise to a redistribution of the cards in the French publishing sector.
The green light from Brussels
The European Commission was opposed to the parent company of Canal+ and Havas owning both Hachette Livre and Editis. Vivendi therefore chose to sell the entirety of Editis to Czech businessman Daniel Kretinsky, allowing him to enter this market. Brussels gave the green light to this transaction at the end of October.
At the head of Hachette Livre, Arnaud Lagardère succeeds Pierre Leroy. The latter was appointed in March 2021 to replace Arnaud Nourry, dismissed from his position after 18 years after opposing the merger with Vivendi. Pierre Leroy nevertheless remains within the Lagardère group, as deputy general manager.