Havas Chairman & CEO Alain dePouzilhac resigns

MUMBAI: Alain de Pouzilhac, chairman and CEO of French advertising company Havas, has resigned.

According to agency reports, de Pouzilhac's departure was followed by a meeting of the Havas' board in Paris, the first of such a gathering of the company's management since he lost a battle with rival Vincent Bollore, Havas' single-largest shareholder who has more than a 20 per cent stake in the company.

de Pouzilhac yesterday proposed to the board of directors a period of transition prior to the installation of a new chairman and chief executive officer. During this transitional period Richard F. Colker, an independent director of ten years' standing and chairman of the audit committee, will exercise the functions of chairman and CEO, backed by a team of three directors: Ed Eskandarian, Fernando Rodés, Jacques Séguéla, who will take responsibility for the group's executive functions.

The board of directors in turn approved the proposal and have brought to an end Alain de Pouzilhac's term of office as Chairman and CEO of Havas. de Pouzilhac will continue to serve as a member of the BOD and to give the group the benefit of his advice and counsel.

The board will convene again in the near future in order to

consider ways of involving Havas’ employees in the Group's development by means of new equity-based schemes, such as stock-options, bonus shares or other plans.



Martin Gollner analyst Bryan Garnier has earlier said that Havas' (HAVS) turnaround in short-term would be unlikely if CEO Alain de Pouzilhac resigned. He was of the view that the current valuation of Havas already reflected the group's turnaround and that a strategic sale would seem unlikely in the short term.

Latest Reads
Vodafone launches #StrongerEveryHour campaign

MUMBAI: Vodafone Idea, the largest telecom network in the country, welcomes the New Year with the launch of #StrongerEveryHour campaign that aims to highlight the improved network of ‘Vodafone SuperNet 4G - India’s Data Strong Network’ especially in crowded zones, where a tower is being added every...

MAM Media and Advertising Ad Campaigns
Worldwide media owned launches a new india-centric section – ‘know india’, a knowledge portal from Worldwide Media Private Limited, announces the upcoming launch of a riveting new section – ‘Know India’ on the website.

MAM Marketing MAM
Ashish Tiwari resigns as head digital marketing, PR at Hero Cycles

The head of digital marketing and PR at Hero Cycles, Ashish Tiwari has reportedly stepped down from his position.

MAM Media and Advertising People
Ogilvy appoints Reed Collins, Sonal Dabral to head APAC team

Ogilvy announced today a new creative leadership team in the Asia Pacific region. Reed Collins and Sonal Dabral will lead the agency’s creative efforts throughout Asia Pacific

MAM Marketing MAM
Sachin Bansal invests $21 mn in Ola

According to a filing with the Registrar of Companies (RoC), Flipkart co-founder Sachin Bansal has invested around $21 million in the SoftBank-backed cab-hailing platform Ola in a Series J funding round.

MAM Marketing Brands
Ogilvy creates campaign for Bajaj Platina

Taking the ‘jhatka-free’ story, from Bajaj Platina’s previous campaigns, a notch higher, Ogilvy has created yet another ‘edge of the seat’ thriller for the launch of the new Platina ComforTec 110. The ad shows a tale of two bomb squad technicians trying to find a solution for an un-diffusible bomb...

MAM Marketing MAM
Publicis India bags creative duties of

Leading online pharmacy has appointed Publicis India to manage its creative duties. The agency was shortlisted after a multi-agency pitch and was chosen for presenting a sharp consumer-focused communication plan that was in sync with what the brand had envisioned for the Indian market.

MAM Marketing MAM
Rajnigandha Pearls is Ready to Shine with Goodness, Yet Again, With Anushka Sharma

The leading Bollywood actress, Anushka Shama is the new brand ambassador for Rajnigandha Pearls, from the House of DS.

MAM Marketing MAM
Tata Harrier kick starts the Tata Mumbai Marathon 2019 trophy tour

Tata Harrier- the official lead car of the Tata Mumbai Marathon 2019, today started the Tata Mumbai Marathon Trophy Tour 2019

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories