Arnaud Nourry dismissed from his post at the head of Hachette Livre by Arnaud Lagardère

Hachette Livre CEO Arnaud Nourry was dismissed on Monday March 29 from his position at the head of the third largest publishing group in the world by his shareholder Arnaud Lagardère. This episode illustrates the deep disagreement over the future of the company coveted for months by businessman Vincent Bolloré.

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Arnaud Nourry has been replaced as CEO by the general secretary of the Lagardère group, Pierre Leroy, who will be assisted by the general secretary of Hachette Livre, Fabrice Bakhouche, appointed deputy managing director.

Mr. Nourry had left his traditional reserve to oppose in the media any dismantling of Hachette Livre or a merger with its competitor Editis, owned by Vivendi. “A merger with Editis makes no strategic sense”, he said in The world of March 23, adding: “Any idea of ​​dismantling is to be avoided. “

Lagardère’s only gem

Hachette Livre, the leading French publisher, is now the only jewel of the Lagardère group. Unlike the “travel retail” pole (airport businesses) which suffered the full consequences of the Covid-19 pandemic, the publishing group weathered the crisis without damage. It published enviable 2020 results, with sales of 2.4 billion euros, and operating income of 246 million, up 11.4%. Since 2003, Arnaud Nourry has transformed Hachette Livre into a very international group: 70% of turnover is now achieved outside France, particularly in the United States and the United Kingdom.

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Hachette Livre’s main competitor, Editis, whose parent company, Vivendi, is owned by Vincent Bolloré, took a stake in Lagardère a year ago before becoming its first shareholder. In November, the first discussions would have already taken place between the media giant and Lagardère about the sale of the international division of Hachette Livre. Such an assumption has since greatly worried the employees of this group, who also fear a sale of other French publishing houses.