Thursday, June 06, 2013

11191: Havas Runs On Nepotism.

Advertising Age reported Havas Chairman Vincent Bollore recommended his successor, who just happens to be his son—plus, Bollore wants another son to succeed the one who will succeed him. The Bollore Group is the single biggest Havas shareholder with a 37 percent stake; plus, they’ve been family-owned and operated since 1822. So the historically exclusive advertising industry is the perfect place for this clan. It should be noted, however, that the Havas website features a section titled, “The Havas group’s six commitments to progress.” The third commitment reads, “To promote diversity and expand health insurance and employee benefits internationally.” Diversity for Bollore probably means integrating cousins into the enterprise.

Bollore Says Son Yannick Will Follow Him As Havas Chairman

French Business Dynasty Prepares Way For Seventh Generation

By Emma Hall

Havas Chairman Vincent Bollore is making it clear he wants his son Yannick to soon replace him as chairman of the Paris-based global ad group, and has also proposed that another son, Cyrille, take on Yannick’s current role as VP and deputy CEO of Havas.

As Havas’ directeur general delegue, his title in French, Yannick Bollore is involved in the running of the group on a day-to-day basis, particularly in the media operations where his expertise lies. He ran Bollore Group’s TV channels before moving to Havas about a year ago.

At the annual shareholder’s meeting on Wednesday, Vincent Bollore concluded his comments on the company’s financial results and strategies by saying that Havas is an innovative young company with an innovative young leadership. He cited as examples a number of executives who are all in their forties, including Global CEO David Jones, 46, and Dominique Delport, 44, managing director of Havas Media.

Vincent Bollore, who is 61, went on to say that now is the time to give space to his 33-year-old son Yannick to step up and replace him. He did not specify exactly when this will happen, but said that the proposal will be raised at a future meeting of the Havas board of directors (half of Havas’ 12 directors are Bollores or Havas employees). The next board meeting is scheduled for the end of August, and another one will take place before the end of 2013.

The senior Mr. Bollore announced years ago that he will retire as chairman of the vast Bollore Group on Feb. 17, 2022, when the family-controlled Bollore Group, founded in 1822, begins its third century. Mr. Bollore takes great pride in being the sixth generation to run the family enterprise, and preparing the seventh generation to take up their roles in Bollore-owned enterprises.

Cyrille Bollore, 27, is currently vice chairman and managing director of the Bollore Group. Vincent Bollore also has another son, Sebastien, 34, and a daughter, Marie, 24, both of whom are in the family business.

The Bollore Group is the single biggest shareholder in Havas with a 37% stake in the company. Mr. Bollore became its chairman in 2005 after staging a boardroom coup to depose chairman and CEO Alain de Pouzilhac.

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