28 June 2012 Last updated at 14:41 ET

Vivendi boss leaving after dispute with board

Jean-Bernard Levy Jean-Bernard Levy had been in the top job since 2002

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The boss of French media and telecoms group Vivendi is quitting his job following a dispute with his board over the company's future strategy.

Vivendi said Jean-Bernard Levy was stepping down "following a divergence of views on the strategic development of the group".

He is being replaced by Jean-Francois Dubos, who is currently the company's chief lawyer.

Vivendi's shares have been at a nine-year low this year.

Mr Levy's departure follows after a meeting of the company's senior managers to discuss the firm's strategy moving forward.

Vivendi's main telecoms business, SFR, has recently faced increased competition, which has seen it lose market share.

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