Mediapsssst reported Havas CEO Yannick Bolloré pocketed a significant compensation bump in 2024, despite the White holding company’s organic revenue decline.
Bolloré’s response was probably, “Thanks, Dad.”
Havas CEO Bollore’s Compensation Soared 2.7 Times In 2024
By Richard Whitman
Havas Group didn’t grow last year—its 2024 organic revenue decline was 0.8%—but CEO Yannick Bollore’s compensation grew by a lot.
According to the company’s recently issued annual report Bollore’s total compensation last year was nearly 10 million euros (about $11.4 million). That included a 1.5 million base salary, long and short-term incentive bonuses and other benefits.
By comparison, in 2023 Bollore’s total compensation was about 3.7 million euros. The company grew 4.4% that year and has projected it will grow 2%-plus in 2025.
WPP lost ground last year as well with an organic decline of 1%. CEO Mark Read took a 15% cut in total compensation.
Bollore’s pay is just a small portion of the value he derives from Havas. He owns 3% of company shares—making him one of the largest single shareholders—and other Bollore entities own an additional 31.05 of company shares.
The company returned to the public markets late last after being a subsidiary of Vivendi since 2017. Shares are down 22% on the Euronext Amsterdam stock exchange since trading began on December 16.
At its annual meeting in May the firm will propose a 1-for-10 reverse stock split as part of a plan to boost the stock price. It also plans to buy back up to 10% of outstanding shares over the next 18 months and offer a dividend (0.08 euro per share).
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