Vivendi chief executive Arnaud de Puyfontaine has been named chairman of Gloo Networks, the London-listed technology company set up to acquire struggling media assets.
De Puyfontaine, who used to run magazine publisher Hearst’s UK business, is to take up the non-executive chairman role immediately.
Gloo, which was set up by ex-Hearst digital executive Rebecca Miskin, listed on the AIM market of the London Stock Exchange in August.
The company aims to acquire and operate consumer brands in the media sector with an enterprise value in the range of £250m to £1bn.
“I am delighted to be joining Gloo Networks at this critical stage in the company’s development, and when the structural changes in the media industry are generating a wealth of opportunities,” said De Puyfontaine. “Rebecca and her team have the energy, skills and experience to transform businesses and create real, sustainable value for Gloo’s shareholders.”
Gloo raised an initial £30m pounds from investors including Invesco, Standard Life and Marwyn, which counts Entertainment One, the owner of Peppa Pig, among its former investments.
“Arnaud’s vision and strategic thinking will be of enormous benefit to Gloo as we execute our strategy,” said Miskin.
