Corporate Governance

JAMES LEYNSE/CORBIS SABA

Jean-Marie Messier, CEO of Vivendi Universal

National pride probably saved media mogul Jean-Marie Messier's skin, but the embattled CEO of Vivendi Universal must walk a managerial tightrope if he hopes to keep his job. A majority of fellow French board members backed the besieged chairman, while North Americans, mainly representatives of the Bronfman family who had sold Seagram — and its Universal Studios and Music — to Vivendi, voted to oust Messier in a tense meeting last week. The boardroom revolt reflected market alarm over Vivendi's share slide — down 65% since January — and concern with the group's staggering €19 billion debt. The once media-friendly Messier...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!