Gameloft CEO reportedly stepping down after Vivendi takeover

Gameloft chief executive Michel Guillemot is expected to resign in the wake of Vivendi’s successful hostile takeover of the French mobile game publisher, according to a Bloomberg report.

Bloomberg said that Vivendi has gained control of more than 56 percent of Gameloft’s stock in a months-long attempt to gain control of the mobile gaming pioneer, which has had a hard time in the past year. Gameloft lost money and cut more than 500 jobs in 2015, partly because the competition in mobile gaming has become so intense.