Ubisoft CEO Yves Guillemot warns Vivendi to back off ahead of AGM

Mike Stubbs
Ubisoft CEO Yves Guillemot warns Vivendi to back off ahead of AGM

Ahead of today's Ubisoft AGM CEO Yves Guillemot has said he won't relax until Vivendi is out of the company entirely.

Tensions between the two groups have risen over recent months as former Activision owner Vivendi has increased its ownership share in Ubisoft, and seems to want to take control of the company away from the Guillemot family.

The first major step in this plan for Vivendi since buying the shares, is to try and secure seats on the company's board of directors at today's AGM. Obviously this is something Ubisoft's CEO would like to avoid, and he made his stance known when speaking to The Wall Street Journal.

"We won't relax until they sell their shares," Guillemot told The Wall Street Journal. "The creeping control strategy implemented by Vivendi is dangerous. We think that there's a great risk of shareholders losing value."

The AGM is set to take place around 1:30pm today, but according to Polygon it features no votes proposed by Vivendi, which would be required to get them the seats they want. However any shareholder can start a vote at the meeting with no warning, which is what many expect Vivendi to do. Polygon's sources say that if this move is unsuccessful Vivendi will start a more hostile takeover.

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