Jacques Espinasse, previously CEO of the TF1-controlled digital satellite platform Television Par Satellite (TPS), has been named chief financial officer of beleaguered media and entertainment giant Vivendi Universal.

Espinasse, who has held top positions at several French publishing groups (including Vivendi Universal subsidiary Havas) before joining TPS in 1999, replaces Guillaume Hannezo.

Hannezo, who earlier this week denied that he had resigned, will act as a consultant to Vivendi Universal's new chairman Jean-Rene Fourtou for a period of six months.