Publicis proposes change to governance structure

Publicis Groupe announced a proposed change to the company’s governance, that will be put to a shareholder vote at its Annual General Meeting on May 29. “Publicis has undergone a period of sustained momentum over the past years, thanks to its unique model adapted to the needs of some of the world’s leading companies, its unmatched capabilities and the depth of its talent bench. To further support that dynamic, and the leadership teams behind it, and in anticipation of the end of his mandate in 2025, Maurice Levy, Chairman of the Supervisory Board, submitted to the Groupe’s governing bodies a proposal to change the company’s governance. This change would see the company shift from a dual structure corporation with a Supervisory Board and Management Board, and instead adopt the more widespread model of a single structure corporation with a Board of Directors. Following a lengthy and rigorous process, the Supervisory Board unanimously approved the proposal, which will be subject to a vote by shareholders during the upcoming Annual General Meeting. In this new structure, Arthur Sadoun would become Chairman and CEO of the Board. His appointment would be accompanied by the creation of the role of Lead Director, and the reinforcement of the Board’s committees, as part of a well-balanced governance model and in line with AFEP-MEDEF guidelines. Maurice Levy, Chairman of the Supervisory Board, would be named Chairman Emeritus in order for the Groupe to continue to benefit from his insight, experience, and leadership. In addition to attending board meetings, Maurice Levy would preside over a mixed group of board members and executives, with a clear focus on innovation and foresight. These changes would allow for the continuation of the partnership formed by Levy and Sadoun, which in the past seven years has seen Publicis become first in the industry on market capitalization,” the company stated.