The chief financial officer of Vivendi , Philippe Capron, will soon be named to the same post at Veolia Environnement , according to four sources familiar with the situation.

The departure of Capron, who has been with Vivendi since 2007, will deprive the conglomerate of a key executive in the middle of a restructuring aimed at selling telecom assets and focusing more on media activities.

Veolia has been searching for a chief financial officer since September when Pierre-Francois Riolacci announced that he would join Air France-KLM .

The waste and water specialist is in the midst of a painful turnaround and debt reduction effort.

(Reporting by Mathieu Protard, Leila Abboud, Sophie Sassard, and Benjamin Mallet; Editing by Lionel Laurent)