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Universal Studios Exec Reportedly Resigns

July 16, 2002|Richard Verrier

A senior executive vice president of operations and finance for Universal Studios, Vincent Grimond, has resigned, sources say.

Grimond was tapped by former Canal Plus Chairman Pierre Lescure to serve as a link between the European film and television company and Universal Studios after the firms merged 18 months ago. Grimond was the architect of StudioCanal, the film production and distribution entity of Canal Plus.

Grimond's role was thrown into question earlier this year when Vivendi Universal bought the film and television properties of Barry Diller's USA Networks for $11 billion.

Grimond is joined by several other Vivendi executives who have stepped down, or are expected to resign, after the board's ouster this month of fallen Chief Executive Jean-Marie Messier. Communications chief Catherine Gros also turned in her resignation last week.

The departures come as new Vivendi CEO Jean-Rene Fourtou attempts to restore investor confidence in a company whose stock has plummeted 70% amid concerns over its debtand strategy.

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Richard Verrier

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