Vivendi CEO joins buy outs firm as non-exec chair

Gloo Networks, a company set up to buy and operate consumer brands in the media sector, has appointed Vivendi CEO Arnaud de Puyfontaine as non-executive chairman.

De Puyfontaine, along with Gloo’s other directors, will be responsible for the overall management and strategic direction of the company – which has set a target to buy media brands with an enterprise value in the range of £250 million (US$379.1 million) to £1 billion.

“Arnaud’s vision and strategic thinking will be of enormous benefit to Gloo as we execute our strategy. He is one of the leading figures in the global media industry and we’re delighted to have secured someone of his calibre to our board,” said Gloo CEO Rebecca Miskin.

De Puyfontaine joined Vivendi in November 2013 and was appointed CEO in June 2014. He is also currently a director or partner of a number of companies including Canal+ Group, Studiocanal and Universal Music France.

Gloo Networks listed on the AIM market of the London stock exchange in August and raised £30 million from financial institutions including Invesco, Standard Life, Ruffer, City Financial and Marwyn, which recently sold its 17.9% stake in Entertainment One to the Canadian Pension Plan Investment Board.