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Ex-Hachette Livre chief Arnaud Nourry knew his job was on the line and deliberately granted a series of interviews with French media describing his vision for the publishing group before he was fired, according to an informed source.
Contrary to certain reports in the French press, “the interviews [including with Les Echos and Le Monde] were not the cause of Nourry's dismissal, but were an attempt to communicate his side of the story before it was too late, essentially for the benefit of Hachette Livre employees,” the source told The Bookseller.
“Nourry had been in conflict with the parent company [the Lagardère group] over the future of Hachette Livre for six months,” the source added. “The situation got pretty tense and it became clear to Nourry that, as is always the case, the manager would end up losing their battle against the owner.” Known for his discretion, Nourry gave the interviews—in which he warned that he would not stand by while there was any carve-up of Hachette Livre—because “he wanted to leave a public record of why he would be leaving the company,” the source added.
Reports have suggested that LVMH chief Bernard Arnault, a shareholder ally of Arnaud Lagardère, who heads the book publisher’s parent company Lagardère group, and rival Vivendi chief Vincent Bolloré are negotiating to hive off Hachette Livre’s overseas interests to Vivendi, and to leave its domestic interests with Lagardère. The deal would complement the domestic operations of Vivendi’s subsidiary Editis, and would promote it from the second-largest to the largest French publisher. Other reports suggest that Nourry was sacked because of his plans to launch a leveraged buyout for Hachette Livre.
In an open letter to Lagardère chief Arnaud Lagardère released yesterday, and seen by The Bookseller, the group’s works council warns it “will mobilise to prevent a break-up of the group that would be against the interests of the staff.” It adds ‘there is still time to avoid it”, and asks whether the group is being “sacrificed on the altar” of Arnaud Lagardère’s personal debts.
Nothing would seem able to prevent Vivendi from acquiring part of Hachette to expand Editis, the letter says. “Your silence for the last year gives the impression of being at the end of the road.”
Reacting to new Hachette chairman and c.e.o. Pierre Leroy’s message to the staff on Tuesday (30th March), in which he played down the sell-off plan, Noëlle Genaivre, secretary of Lagardère’s European works council, said she found it difficult to believe Leroy would be able to ensure that “the only project” was for Hachette Livre to remain in one piece. “In the past, Arnaud Lagardère said that assets, such as Elle, were sacrosanct. But he broke his promise, and sold off the magazine and other publications,” Genaivre told The Bookseller.