UNIVERSAL MUSIC GROUP N.V. ANNOUNCES RESIGNATION OF CYRILLE BOLLORÉ FROM ITS BOARD OF DIRECTORS
Rhea-AI Summary
Universal Music Group (OTC:UNVGY) announced that Non-Executive Director Cyrille Bolloré has resigned from its Board of Directors, effective immediately. The resignation comes as Mr. Bolloré aims to focus on his responsibilities at the Bolloré Group. Despite his departure, Mr. Bolloré maintains strong support for UMG's management team and strategy. The UMG Board expressed gratitude for his contributions to the company.
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News Market Reaction – UNVGY
In the trading session that priced this news, UNVGY declined 8.37%, reflecting a notable negative market reaction.
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About Universal Music Group
At Universal Music Group, we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation, and entrepreneurship, UMG fosters the development of services, platforms, and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information, visit www.universalmusic.com.
Cautionary Notice
This press release is published by Universal Music Group N.V. and contains inside information within the meaning of article 7(1) of Regulation (EU) No 596/2014 (Market Abuse Regulation).
