SURESNES, FRANCE: Havas ended a brief period of leadership limbo yesterday by naming shareholder Vincent Bollore as the new chairman of the board.
The holding company also named Philippe Wahl as its new CEO.
Former CEO and chair Alain de Pouzilhac stepped down last month after Bollore won four seats on the company?s board, signaling his triumph in the battle between the two for control of the company?s future.
Richard Colker, who had been serving as interim chair and CEO for the past month, will return to his regular seat on the board. Three directors who had been assisting him in that role?Ed Eskandarian, Jacques Seguela, and Fernando Rodes?were named vice chairmen. The company said that they would ?lead a strategic committee? along with Bollore.
The company also named five new MDs, and said that CFO Jacques Herail will stay on in his current position.
Bollore, who has in the past been known for buying large stakes in companies, retooling them, and then selling out at a profit, said that he will not do so with Havas.
?My personal contribution at the head of the Havas Group demonstrates the long term commitment of the Bollore Group to the strategic development and growth of Havas and its activities,? he said in a statement.
Havas? PR agencies include Abernathy MacGregor and Euro RSCG Magnet.