Vivendi Chief Jean-Marie Messier

Jean-Marie Messier, chairman and CEO of beleaguered French media major Vivendi Universal, has agreed to quit after the company's board members withdrew support to him, reports say.

The first indication that Messier had indeed thrown in the towel was provided by French newspaper Le Monde which reported in today's edition that Messier had agreed to resign. This ends a week-long effort by Messier to cling onto his post in the face of growing pressure to step down over mounting debts and a share price that has fallen 64 per cent since the turn of the year.