▁defeated ▁by ▁Social ist ▁François ▁H oll ande ▁by ▁a ▁margin ▁of ▁ 3 . 2 %. ▁ ▁Transfer ▁of ▁power ▁▁ ▁Nicolas ▁S ark o zy ▁was ▁elected ▁president ▁on ▁ 6 ▁May ▁ 2 0 0 7 , ▁but ▁the ▁official ▁transmission ▁of ▁power ▁took ▁place ▁ten ▁days ▁after . ▁In ▁this ▁period ▁of ▁time , ▁he ▁could ▁not ▁exercise ▁his ▁power ▁nor ▁begin ▁appoint ing ▁a ▁government . ▁Between ▁ 7 ▁and ▁ 9 ▁May , ▁he ▁left ▁on ▁hol id ays ▁with ▁his ▁family ▁off ▁Mal ta ▁on ▁board ▁a ▁y acht ▁l ent ▁by ▁a ▁friend ▁of ▁M . S ark o zy ' s , ▁Vincent ▁B oll or é . ▁This ▁trip ▁gave ▁rise ▁to ▁some ▁criticism ▁in ▁the ▁media , ▁because ▁Vincent ▁B oll or é ▁was ▁the ▁chairman ▁of ▁the ▁B oll or é ▁Group , ▁one ▁of ▁the ▁biggest ▁and ▁most ▁powerful ▁French ▁con gl omer ates . ▁However , ▁a ▁poll ▁showed ▁that ▁a ▁majority ▁of ▁people ▁found ▁that ▁this ▁trip ▁was ▁not ▁shock ing . ▁ ▁The ▁official ▁transfer ▁of ▁power ▁from ▁Jacques ▁Chi rac ▁took ▁place ▁on ▁ 1 6 ▁May ▁at ▁ 1 1 : 0 0 ▁am ▁( 9 : 0 0 ▁UTC ) ▁at ▁the ▁É ly s ée ▁Palace , ▁where ▁Nicolas ▁S ark o zy ▁was ▁given ▁the ▁nuclear ▁codes ▁of ▁the ▁French ▁nuclear ▁ar sen al ▁and ▁presented ▁with ▁the ▁Grand ▁Master ' s ▁Col lar , ▁symbol ▁of ▁his ▁new ▁function ▁of ▁Grand