PARIS: Global communications group Havas held its annual shareholders' meeting, overseen by Chairman Vincent Bollore, on Monday.According to the Paris-based holding company, shareholders approved a management-proposed employee stock incentive plan authorizing Havas' board of directors to issue bonds with redeemable equity warrants, agree to stock options, and implement a wage savings plan.
"A large majority of shareholders," however, rejected resolutions regarding compensation and severance payments to former company directors.
There are currently 13 members on Havas' Board of Directors, including Bollore and representatives of Havas International and Euro RSCG. In May, Havas reported a 2.6% increase in first-quarter 2006 revenue compared to the first three months of 2005. The company said it expects continued "positive growth in the second half-year."