The French company Vivendi Universal is one of the Big Six global entertainment companies. It’s been having some trouble of late; among other things, the firing of the CEO of Canal Plus sparked demonstrations and protests, and shareholders have had their doubts about the French company buying the U.S.-based Universal Studios and its associated record labels.
Well, Vivendi held its annual meeting last week, and not everything went as planned. Two management proposals, including a lucrative stock option plan for management, were unexpectedly defeated.
Wait — we’re just getting to the techie part.
Management says that surely was a mistake of science fiction proportions, and has a science fiction reason: the company is blaming hackers for breaking into its wireless voting system and making mischief. Other experts are not so sure.
In any event, a French court today bought the excuse, and is allowing the company to re-run the annual meeting. All except the dividend vote; the dividend will be paid as agreed at the meeting, hackers or no hackers.