Publicis Groupe proposes change to its governance structure

Publicis Groupe proposes change to its governance structure

Paris - April 17, 2024 – Publicis Groupe [Euronext Paris FR0000130577, CAC 40] today announced a proposed change to the company’s governance, that will be put to a shareholder vote at its Annual General Meeting on 29^th May, 2024. 

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 Lévy, 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 (Directoire), 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 Lévy, 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 Lévy 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 Lévy and Sadoun, which in the past seven years has seen Publicis become first in the industry on market capitalization.  

“Publicis Groupe has a long history of anticipating change and transforming itself to face the future” commented Maurice Lévy, Chairman of the Supervisory Board. “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. With this in mind, I proposed changing the governance of the Groupe in order to put in place a Board of Directors, with Arthur Sadoun as Chairman and CEO. It’s the most effective way of maintaining the Groupe’s success, now and in the long term. I’m delighted that the Supervisory Board was unanimous in its approval of this change, and confident that our shareholders will give it their support, seeing it as the means of preserving and perpetuating the outstanding results that have taken our group to new heights.”