The global agency group Publicis has restructured its governance by merging its supervisory and management boards into a unified entity.
Arthur Sadoun, currently CEO and chairman of the management board, will assume the same positions on the newly established single group board.
Maurice Lévy, who has served as chair of the supervisory board for an extended period, will transition to an honorary role as chairman emeritus. Lévy, a stalwart of Publicis since 1971, expressed confidence in the company’s ability to adapt to change and evolve its governance structure to meet future challenges.
Lévy stated, “Publicis Groupe has a long history of anticipating change and transforming itself to face the future. The primary responsibility of any board is to ensure that a company has both the governance structure and the teams it needs to lead it forward.”
The proposal to consolidate the governance structure received unanimous approval from the supervisory board. Lévy emphasized the importance of shareholder support in maintaining the company’s momentum and sustaining its success.
Although Lévy will not hold a directorship on the new board, he will remain closely involved, serving as an advisor to Sadoun and attending board meetings. Shareholders will vote on the proposed changes at Publicis’ general meeting on 29 May.
Arthur Sadoun has led the management board since 2017, succeeding Lévy, who held the position from 1987. Sadoun highlighted the continuity of the partnership between him and Lévy, which has propelled Publicis to a leadership position in the industry.
Sadoun remarked, “The continuity of our partnership, combined with the incredible talent of our teams around the world and our best-in-class capabilities make us more confident than ever in our ability to help our clients transform and thrive in this ever-changing environment.”
He expressed hope that shareholders would endorse the proposal, recognizing its potential to drive value and innovation for all stakeholders.
