Jean-René Fourtou

Fourtou was one of the architects of separating Rhône-Poulenc's chemicals business to create Rhodia. Minority shareholders, including Edouard Stern and Hugues de Lasteyrie, subsequently accused the former parent company and several executives, including Fourtou, of transferring liabilities and distributing inaccurate information; judicial and market investigations were opened.

State of the evidence

Allegations

During the competition between Numericable and Bouygues for SFR, Fourtou was publicly described as favouring Numericable. Articles and minority shareholders raised suspicions of conflicts of interest and lack of transparency; Fourtou's precise participation in the final vote was itself disputed.

State of the evidence

Allegations

Attribution

Directly implicated

Following the decision to review Vivendi's portfolio thoroughly, Fourtou was strongly criticised by some shareholders and observers over the slow pace of disposals, poor share performance and debt, while several earlier acquisitions were questioned. The 2013 general meeting was presented as potentially highly confrontational.

State of the evidence

Documented

Legal status — source text

Not applicable

Attribution

Directly implicated

An open conflict developed between Fourtou and Vincent Bolloré over governance and the choice of Vivendi's future leader. Bolloré withdrew his own candidacy after the withdrawal of a candidate supported by Fourtou; the subsequent settlement arranged Fourtou's early departure in 2014 and Bolloré's increasing influence.

State of the evidence

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Not applicable

Attribution

Directly implicated

A strategic review at Vivendi revealed major disagreements between Fourtou, chairman of the supervisory board, and Jean-Bernard Lévy, chairman of the management board. Lévy left his position immediately; Fourtou later acknowledged that the departure had not been anticipated.

State of the evidence

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Legal status — source text

Not applicable

Attribution

Directly implicated

Following his arrival at Vivendi, purchases of bonds redeemable in shares (ORA) by Fourtou's foundation and sons, amounting to approximately €20 million and carrying potentially substantial capital gains, prompted controversy over financial benefits linked to the group's recovery. Separately, in January 2005 the AMF notified Vivendi, Fourtou and Jean-Bernard Lévy of allegations concerning disclosures made when the ORA bonds were issued in November 2002.

State of the evidence

Documented

Attribution

Directly implicated

A preliminary investigation was opened into possible personal use of Vivendi aircraft by Fourtou, involving approximately fifteen flights, notably to Morocco, costing the company around €300,000.

State of the evidence

Documented

Attribution

Personally implicated

As vice-chairman of Aventis's supervisory board, Fourtou participated in the unanimous rejection of Sanofi-Synthélabo's hostile offer, which the board considered inadequate and contrary to shareholders' and employees' interests.

State of the evidence

Documented

Legal status — source text

Not applicable

Attribution

Directly implicated

Since Jean-René Fourtou took charge of Rhône-Poulenc in 1986, several restructuring plans followed one another in the chemicals division. In 1995, operating profit in that sector fell by 66.2%, while the plans were described as having worried employees and demoralised managers.

State of the evidence

Documented

Legal status — source text

Not applicable

Attribution

Directly implicated