Taken For Granted: Publicis Unveils Participation Plan, CEO Levy Won't

Paris-based agency holding company Publicis this morning unveiled details of a “co-investment” program it has invited 200 “key executives, employees and corporate officers” to participate in, but said its most key exec -- CEO Maurice Levy -- will not participate, because he no longer receives performance shares or stock options.
 
In terms of other key executives on Publicis’ management board, the company said, “free shares will only be granted subject to the condition of performance of the Groupe, under the same conditions as applicable to the granting of stock options.”
 
Publicis did not disclose details of the performance criteria, but described it as “ambitious,” and said its goal is “the continued outperformance of its main competitors.” Publicis is the parent company of agency networks such as Starcom MediaVest Group, Zenith Optimedia Group, Digitas LBi, VivaKi, Leo Burnett and Saatchi.
 
The company said the share grants are based on personal investments the key executives made in Publicis shares effective with its June 7, 2011 shareholders’ meeting, and that it was designed to “promote retention” as well as Publicis’ “growth and margin.”
 
Executives who invested in the program will receive the additional share grants following three years in France, or four years of service in other markets.
 
Publicis said the co-investment plan is similar to one implemented in 2009 that 136 executives participated in.

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