Canal Plus COO Resigns Amid Vivendi Tensions

French media giant Vivendi Universal said Denis Olivennes had resigned as chief operating officer of its pay-TV arm Canal Plus.

Olivennes’ departure followed weeks of tension between Vivendi Chairman Jean-Marie Messier and Canal Plus management.

Messier publicly criticized Canal Plus management last month, complaining about the unit’s poor financial performance and demanding that it become profitable within two years.

Canal Plus Chairman Pierre Lescure swiftly retaliated in an e-mail to employees, saying Messier had fully supported the unit’s strategy in Italy that resulted in a $440-million cash drain last year. Vivendi shares rose $1.36 to $32.95 on the NYSE.