(Bloomberg) -- Arnaud Lagardère, the French business scion who heads a publishing group now controlled by Vivendi SE, was charged with alleged embezzlement and has resigned provisionally as chief executive officer of Lagardère SA.Most Read from BloombergTesla Axes Supercharger Team in Blow to Broader EV MarketAmazon Reports Strong Cloud Unit Sales on Rising AI DemandPot Stocks Surge on Report DEA Set to Reclassify MarijuanaHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsBinance Founde
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"The feasibility study for the split project announced on December 13, 2023, is progressing," said Yannick Bolloré, chairman of Vivendi's supervisory board. Once separated from these three entities, Vivendi would stay listed, maintaining its role of supporting the expansion of its units and continuing to actively manage its investments, it said. Vivendi's first quarter sales jumped 86.6% to 4.3 billion euros ($4.6 billion) driven by its Canal+ and Havas businesses and consolidation of Lagardère.