Science Fair Project Encyclopedia
With a reputation for deft management and fast thinking, Messier rapidly advanced in the ranks of French government and the corporate world. Beginning in the mid-1990s, he transformed Vivendi from a French utility company into a global media and communications conglomerate worth $51 billion. However, he became disliked by many French people for his perceived "American" attitude.
In 2002, however, Vivendi began to run into trouble, for which Messier was blamed. On March 5, 2002, the company announced a loss of $14 billion - the largest in French corporate history. A little over a year later, on July 3, 2003, Messier was ousted as boss of Vivendi, whose stock soared on the news. His severance indemnities of $20 million were a subject of a protracted dispute with the company. Messier argues that Vivendi's troubles were not of his making, and his defenders point out that the next year, on March 6, 2003, the company announced an even larger a record loss of $25 billion.
France's Financial Markets Authority fined Messier €1 million for failing to reveal the true nature of Vivendi's financial situation, but he has announced that he will appeal the fine.
Messier has been married since the early 1970s and has five children.
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details