Maurice Lvy Talks Ethics, Succession at Publicis Shareholder Meeting
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At the Publicis Groupe annual shareholders’ meeting in Paris, chairman and CEO Maurice Lvy spoke of the “beautiful dream” of the failed merger with Omnicom, and admitted that the experience has aged him.
Talking to about 450 shareholders and other attendees at the Publicis Cinema on the Champs Elyses in the French capital, Mr. Levy also commented on succession plans for the group, now that the merger is off. He said, “Everything has to come to an end, including the most marvelous experiences, and there will come a day when I’m going to have to walk out gracefully. I’m 72 and I’m starting to sag and look the worse for all this, so I have to get ready.”
He said that during the merger talks, it looked like part of the succession issue had been solved, but that a “hard and fast” conclusion had not been reached. “It’s now going to be up to the supervisory board to go back to that project,” Mr. Lvy said. “They will be doing so this fall and it’s going to take a little while. No doubt next year they will bounce back with the appropriate solution and I shall be there to help the company for as long as I’m welcome not necessarily in an operational role.”
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