Arnaud Lagardère Resigns Amid Embezzlement Charges

French media mogul steps down as CEO of Lagardère SA, facing allegations of misusing company funds and other financial misconduct.

Arnaud Lagardère, CEO of Lagardère SA, resigns after being charged with embezzlement, vote buying, and other offenses.
Lagardère is accused of misappropriating approximately €80 million for personal expenses, including home renovations and private jet flights.
He has been placed under judicial supervision and is banned from holding executive roles while contesting the charges.
Vivendi, the controlling stakeholder of Lagardère SA, expresses support for the company amid the ongoing legal issues.
Lagardère's legal troubles highlight a dramatic decline in the company's fortunes since he took over from his father.