Reuters/Gonzalo Fuentes/File Photo
French video games company Gameloft said on Wednesday its board was resigning as it disagreed with the strategic vision of its new majority shareholder Vivendi.
Gameloft also said that to facilitate the transition period it had accepted a proposal from its new majority shareholder to name Gameloft’s finance chief Alexandre de Rochefort as head of the group’s 39 subsidiaries, effective June 29.
Vivendi, led by billionaire Vincent Bollore, owns 95.94 percent of the share capital of Gameloft following a hostile takeover battle.
“The board cannot accept to simply execute the decisions of a majority shareholder whose strategic vision and managerial values it does not share,” Gameloft said in a statement ahead of a shareholders meeting due at 1300 GMT on Wednesday.
The board’s resignation will be effective from 1230 GMT on June 29, it said.
(Reporting by Dominique Vidalon; editing by David Clarke)