Ubisoft shareholders back Guillemots after general meeting

Ubisoft shareholders back Guillemots after general meeting
Sean Cleaver

By Sean Cleaver

September 25th 2017 at 10:46AM

Shareholders express 'overwhelming' support for Ubisoft's management strategy

Ubisoft's Combined General Meeting took place on Friday and it seems there was nothing but good news for the Guillemot family.

During the meeting, shareholders apparently were very happy with the current state of play for the French games publisher with what the press release describes as 'overwhelming support for Ubisoft's management and strategy'. All of the resolutions presented at the meeting were also passed.

This included the renewal of the current board of directors, which includes the Guillemot family, Didier Crespel and Laurence Hubert-Moy. Two new independent directors were also appointed, Corinne Fernandez-Handelsman and Virginie Hass.

Also approved was an 'extraordinary resolution' allowing employees to participate in capital increases, however offering free shares to employees was not due to Vivendi declining to vote on the issue.

"We are delighted with the massive support of shareholders, which strengthens our determination and ability to defend the interests of all shareholders, and to pursue our strategy of growth and value creation," said CEO Yves Guillemot. "Ubisoft consolidates its position in the industry among the world's leading video game and entertainment companies.”

Ubisoft has been expanding its operations in Canada and Europe with new studios and further investment in the Quebec area and Sweden. This is despite what is perceived as an aggressive takeover by French media giant Vivendi. But it appears, if this tweet is anything to go by, that the Guillemot family are not going anywhere.