nex ▁( l ater ▁Ve olia ▁Transport ), ▁and ▁C GE ' s ▁water ▁division ▁was ▁renamed ▁Viv endi ▁Water ▁( now ▁Ve olia ▁Water ). ▁In ▁July ▁ 2 0 0 0 , ▁Viv endi ▁En viron nement ▁was ▁div ested ▁through ▁IP Os ▁in ▁Paris ▁and ▁later ▁New ▁York ▁in ▁October ▁ 2 0 0 1 ). ▁Initial ly , ▁Viv endi ▁Universal ▁retained ▁a ▁ 7 0 % ▁st ake ▁in ▁Viv endi ▁En viron nement ▁in ▁ 2 0 0 0 , ▁but ▁by ▁December ▁ 2 0 0 2 , ▁it ▁was ▁reduced ▁to ▁ 2 0 . 4 %. ▁In ▁ 2 0 0 3 , ▁Viv endi ▁En viron nement ▁was ▁renamed ▁to ▁Ve olia ▁En viron nement . ▁ ▁Corpor ate ▁loss ▁ ▁Viv endi ▁Universal ▁dis closed ▁a ▁corpor ate ▁loss ▁of ▁€ 2 3 . 3 ▁billion ▁in ▁its ▁ 2 0 0 2 ▁annual ▁report . ▁It ▁respond ed ▁with ▁financial ▁res h uff ling , ▁trying ▁to ▁shore ▁up ▁media ▁hold ings ▁while ▁s elling ▁off ▁shares ▁in ▁its ▁spin - off ▁companies . ▁Am id ▁inten se ▁media ▁scr ut iny , ▁its ▁chairman ▁and ▁CE O , ▁Jean - Marie ▁Mess ier ▁( who ▁had ▁over seen ▁the ▁most ▁dram atic ▁phase ▁of ▁the ▁company ' s ▁divers ification ), ▁was ▁subsequently ▁replaced ▁by ▁Jean - R en é ▁Four t ou . ▁Mess ier ▁was ▁found ▁guilty ▁of ▁em be zz lement ▁in ▁ 2 0 1 1