Publicis Groupe has unveiled a plan to overhaul its corporate structure, which will be subject to a shareholder vote at the Annual General Meeting on May 29, 2024. The proposal aims to transition from a dual structure featuring a Supervisory Board and Management Board to a unified Board of Directors model.
Under the proposed new governance, Arthur Sadoun is slated to take the helm as Chairman and CEO of the Board. The reorganization also includes the introduction of a Lead Director role and enhancements to the Board’s committees to ensure robust governance aligned with AFEP-MEDEF guidelines.
Maurice Lévy, the current Chairman of the Supervisory Board, is set to be appointed Chairman Emeritus, allowing the Group to continue leveraging his extensive expertise and leadership. Lévy will also lead a mixed advisory group focused on innovation and foresight, comprising board members and executives.
This restructuring is intended to solidify the partnership between Lévy and Sadoun, which over the past seven years has positioned Publicis at the forefront of the industry in terms of market capitalization.
“Publicis Groupe has consistently been ahead of the curve in adapting to changes and positioning itself for the future,” Maurice Lévy remarked. “The board’s foremost duty is to ensure the company’s governance structure and leadership team are well-suited to advance the company. To this end, I advocated for this shift to a Board of Directors led by Arthur Sadoun as Chairman and CEO. This setup is crucial for continuing our trajectory of success into the future. I am pleased with the Supervisory Board’s unanimous support for this initiative, and I am optimistic that our shareholders will also endorse it, recognizing its potential to sustain and enhance our exceptional performance.”
Arthur Sadoun added, “The goal of this governance update is straightforward: it aims to preserve the key elements that have driven our success and to maintain the framework that has made Publicis the most valuable company in our industry by market cap. It also seeks to perpetuate the effective partnership with Maurice Lévy established in 2017, which has differentiated Publicis as a leader in our field. The ongoing synergy between our partnership, combined with the extraordinary talent within our global teams and our leading-edge capabilities, fills us with confidence about our continued ability to support our clients’ transformations, drive innovation, and create greater value for all stakeholders. For these reasons, I am hopeful that our shareholders will back this proposal.”
