French company Vivendi's chief executive steps down

Jean-Bernard Lévy, the chairman and chief executive of the French telecommunications company Vivendi, stepped down following a disagreement with the company's board.

The company, in a statement, described the tension as "a divergence of views on the strategic development of the group." News reports and financial analysts suggest that the board has been embroiled in a debate about whether to carve off assets or break up the company, which consists of European pay-television operations, including France's popular Canal+, Activision Blizzard video game company, Universal Music Group, and phone and Internet services. The development suggests that the board might pursue its plan to break apart its television, video game and music and phone and Internet services.