Havas Group didn’t grow last year—its 2024 organic revenue decline was 0.8%--but CEO Yannick Bollore’s compensation grew by a lot. 

According to the company’s recently issued annual report Bollore’s total compensation last year was nearly 10 million euros (about $11.4 million). That included a 1.5 million base salary, long and short-term incentive bonuses and other benefits. 

By comparison, in 2023 Bollore’s total compensation was about 3.7 million euros. The company grew 4.4% that year and has projected it will grow 2%-plus in 2025. 

WPP lost ground last year as well with an organic decline of 1%. CEO Mark Read took a 15% cut in total compensation.

Bollore’s pay is just a small portion of the value he derives from Havas. He owns 3% of company shares—making him one of the largest single shareholders--and other Bollore entities own an additional 31.05 of company shares. 

The company returned to the public markets late last after being a subsidiary of Vivendi since 2017. Shares are down 22% on the Euronext Amsterdam stock exchange since trading began on December 16.  

At its annual meeting in May the firm will propose a 1-for-10 reverse stock split as part of a plan to boost the stock price. It also plans to buy back up to 10% of outstanding shares over the next 18 months and offer a dividend (0.08 euro per share).