(AOF) – Publicis Groupe will submit to shareholders at the general meeting of May 29, 2024 a change to the company’s statutes. As his mandate expires at the 2025 general meeting of shareholders, Maurice Lévy, chairman of the supervisory board, proposes the return of the company to the form of a limited company with a board of directors. The supervisory board unanimously approved the transformation of the company’s legal structure, which will be submitted to the vote of shareholders at the next general meeting on May 29, 2024.
In this new structure, Arthur Sadoun, currently chairman of the management board, would become chairman and CEO of the board of directors. This appointment would be accompanied by the creation of the position of lead director and the strengthening of board committees, as part of harmonious and balanced governance, in accordance with Afep Medef recommendations.
Maurice Lévy, chairman of the supervisory board, would be named Honorary Chairman, so that the group could continue to benefit from “his market knowledge, his experience and his energy”. In addition to being invited to attend meetings of the board of directors, Maurice Lévy would chair “a mixed group of administrators and managers, responsible for discussions on innovation and foresight”.
“The objective of this evolution in the legal structure is simple: to preserve the reasons for Publicis’ success and perpetuate the model which has made the company the largest market capitalization in the industry.” declared Arthur Sadoun, chairman of the board of directors.
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A global market that is doing well
According to Magna (Interpublic Group), growth in the global advertising market was limited to 1% year-on-year during the first quarter compared to a dynamic start to the year in 2022. However, for the full year, the company expects growth much superior, driven by digital. This performance is the result of China’s economic rebound since the end of the “zero Covid” policy. In the first quarter, advertising spending jumped 6% year-on-year in this country. Elsewhere, expected performances are lower for 2023: 4.2% growth in Europe (including 2.8% in France) and 2.5% in North America (4.2% if we exclude political advertisements falling without an election). The good results of the three world leaders (the French Publicis, the British WPP and the American Omnicom group) in the first quarter reflect this market development.