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Levy Steps Down from Vivendi

LEVY ANKLES VIVENDI: Jean-Bernard Lévy has stepped down as chairman of the Management Board for UMG parent company Vivendi following a “divergence of views” on the strategic development of the group. Lévy's boss, CEO Jean-René Fourtou, remains in place, while Jean-François Dubos, Vivendi’s General Counsel, has been appointed Chairman of the Board, which also includes CFO Philippe Capron. Lévy has been a figurehead in the proposed acquisition of EMI by Vivendi subsidiary Universal for $1.9 billion, a buyout which won the Board’s approval in November of last year. Insiders point to the disappointing results of the company's SFR mobile unit, the loss of a $1 billion judgment in a case brought by Liberty Media and a faltering stock price for his exit. (6/28p)

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