Publicis Groupe’s Supervisory Board, chaired by former CEO Maurice Lévy, is "pleased" with the management board’s leadership and is renewing Arthur Sadoun's role as chairman of the management board for another four years.
Steve King, CEO Publicis Media and Anne-Gabrielle Heilbronner, secretary general, were also unanimously approved for new four-year employment contracts.
Jean-Michel Etienne, executive vice president/chief financial officer, will continue to serve on the management team until December 31, 2020 when he is due to retire.
A motion to expand the Management Board to include new members was also considered, but not adopted.
The Management Board’s compensation packages will remain largely unchanged.
Sadoun's fixed compensation is 1 million euros ($1.16 million), Etienne’s is 840,000 euros ($976,580), Heilbronner’s 600,000 euros ($697,550) as annual fixed compensation. And the gross annual fixed compensation of Steve King was changed to £900,000 ($1.17 million). His compensation is determined and paid in pounds sterling. The executives also receive bonuses.
“The Board is very pleased with this outstanding transition and with the Groupe’s remarkably successful management succession," stated Lévy. "Great emphasis has been placed on Arthur Sadoun’s personality, and on the hard work and energy that has been put into accelerating Publicis Groupe’s transformation. The management team he has put together and the enhanced role of Steve King by his side inspire the Board members with great confidence regarding the successful implementation of the 'Sprint to the Future' plan."