BERLIN — EuropaCorp, which is listed on the Paris stock market, saw its shares rise by 4.94% to 4.46 Euros ($5) following news of the departure of the company’s CEO Christophe Lambert, according to Boursorama.
The company’s stock value has been fluctuating since the news broke. It was up 10.59% an hour ago.
Lambert’s exit was announced following EuropaCorp’s board meeting, at the same time as former Universal Pictures chairman Marc Shmuger was appointed to replace him.
The news of Lambert’s departure has so far been warmly received by the French film industry.
Although reports have indicated that Lambert was fired, EuropaCorp issued a statement claiming the exec had resigned from his position to “pursue a personal project.”
The release also quoted Besson, who had reportedly been at odds with Lambert for over a year, saying that Lambert was leaving the company because he was eager to produce. He also thanked Lambert for financing “Valerian,” which is budgeted at 170 million Euros.
Besson, who is currently shooting “Valerian” at the Cite du Cinema, was not available to comment further on Lambert’s departure beyond that statement.