Still No Aegis Board Seats for Bollore

Shareholders Reject French Financier's Two Candidates For Fourth Time

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LONDON (AdAge.com) -- Aegis Group's largest shareholder, Vincent Bollore, failed for the fourth time in 12 months to get two nominees voted onto Aegis' board of directors at today's annual general meeting.
Vincent Bollore
Vincent Bollore Credit: AP

His candidates, Roger Hatchuel, former owner of the Cannes Lions International Advertising Festival, and French telecom executive Philippe Germond, were rejected by 95% of non-Bollore Group shareholders, a result almost identical to those of three previous votes.

Aegis Group steadfastly rejects the candidates proposed by Mr. Bollore because, in addition to owning 29% of Aegis' shares, he is also chairman of French communications group Havas. His candidates were defeated by a margin of 59% to 41%.

Conflict of interest?
Mr. Bollore disputed the Aegis stance that his nominees would represent a conflict of interest, saying the group's rejection of his candidates is "against the interest of the company."

"Fresh blood is always good," he said.

Aegis Chairman Colin Sharman said in a statement: "The outcome of today's [meeting] is not a surprise. We thank shareholders for their continued support and hope that Groupe Bollore will listen to the views of its fellow shareholders."

Mr. Bollore said he plans to continue to exercise his right to call for a vote on the candidates three times a year.
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