ALAIN DE POUZILHAC resigned as chairman and chief executive of Havas, the world’s sixth-largest advertising group, last night, after losing a bitter struggle to block Vincent Bollore, the maverick French investor, from gaining increased control over the company.
M de Pouzilhac stepped down at the first meeting attended by M Bollore, who he said had betrayed the company by criticising its failed bid to buy Grey Global of America last year. M Bollore has built a 22 per cent stake in Havas over the past 18 months and has insisted he is in the company for the long term, but has given little detail about his strategy.
Havas said Richard Colker, a board member and head of Havas’s audit committee, would act as interim chairman and chief executive until the nomination of a successor for M de Pouzilhac. Board members Ed Eskandarian, Fernando Rodes and Jacques Seguela will take on other executive functions.
The most likely candidate to succeed M de Pouzilhac is Jean-Marie Dru, the chief executive of TBWA Worldwide, owned by Omnicom, the world’s largest advertising group. Omnicom has not commented on M Dru’s possible departure but insiders are said to be frustrated, given that he recently signed a new contract.
Although it was widely expected, some analysts believe M de Pouzilhac’s departure could weaken Havas. “[It] could result in significant management departures and ultimately client losses,” UBS analysts said in a recent research note.