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The departure of leading French publisher Hachette Livre chairman and c.e.o. Arnaud Nourry from his post yesterday (29th March) was a surprise for its suddenness but not in itself, in view of the shareholder battle under way at parent company Lagardère.
Lagardère said in a press release said that Nourry had "decided to part ways with the Group on an amicable basis". But most French press headlines state that he was fired. The interview he gave to the newspaper Le Monde last week, where he said a tie-up with the second largest publisher Editis — owned by Lagardère shareholder Vivendi — made no sense, was the last straw for group chief Arnaud Lagardère, according to the daily newspaper Le Figaro.
Nourry, who propelled Hachette Livre to third place in the world book publishing league during his 18 years at the helm, reiterated his opposition to a possible break-up of the publishing house. He was reacting to speculation that Arnaud Lagardère’s ally LVMH chief Bernard Arnault and rival Vivendi chief Vincent Bolloré were negotiating to hive off Hachette’s overseas publishing interests to Vivendi, and to leave its domestic interests with Lagardère.
Nourry’s departure is "not a surprise, except for the timing, and is not good news for Hachette Livre", according to Martine Prosper, secretary-general of the book branch of the trade union Confédération Fran√ßaise Démocratique du Travail (CFDT).
Since 70% of Hachette’s sales are overseas, Editis will become the leading French publisher if the carve-up goes ahead as reported, says Prosper. Hachette is a "victim of its own success. It is the only French publisher with a strong international presence," she said. "There is probably an agreement [about the carve-up of Hachette] already. We will be very attentive as to what it contains."
"I fear the worst," said literary agent Pierre Astier. "A break-up [of the company] is on its way," he told The Bookseller, adding that Nourry’s "curiosity for book markets around the world, developed and emerging, was remarkable."
Another industry source, who asked to remain anonymous, said it is clear something important is happening and will lead to major change in the French publishing industry. "The uncertainty is terrible for the staff of Hachette and everyone else in the business," they said. Nourry is highly respected among his peers, and "I learned a lot by observing him and his way of working," the source added.