Campaign UK went to Paris to witness a piece of advertising history as Maurice Lévy chaired his final AGM after 37 years at Publicis.
It was a “big day”, Lévy told Campaign, before the meeting, recalling he first became a board member in 1981.
Publicis and Lévy, who joined in 1971, have a strong sense of history. Marcel Bleustein-Blanchet founded the agency in 1926 and led it for 60 years and his daughter, Élisabeth Badinter, remains a director.
Lévy, who is 82 and remains a dynamic and imposing figure, is one of the biggest beasts of French business and global advertising.
The AGM marked the end of an era as he was giving up his seat on the board, although he will be an adviser in a new role as chairman emeritus and will continue to attend board meetings.
Charisma
There was a sustained round of applause after Lévy delivered his opening address, in which he talked about his pride in Publicis’ past and confidence in its future. “Bravo!” one shareholder exclaimed.
As the meeting went on and other directors gave presentations, Lévy still commanded the room — through a mix of charisma, force of will, wit and charm.
Lévy also had the confident air of a man whose reputation has grown with the passing of time.
After handing the CEO’s reins to Arthur Sadoun in 2017, Lévy stayed on to give guidance and ensure a smooth succession.
Under Sadoun’s leadership, Publicis has expanded in digital, data and commerce and eclipsed WPP and other rivals such as Omnicom since the pandemic to become the world’s most valuable agency group with a €27bn (£23bn) valuation.
Publicis was the best-performing agency stock, up 41 per cent last year, as a Campaign headline displayed on the cinema screen during the AGM reminded shareholders.
Patriotic
Publicis asked shareholders to approve a plan to simplify the corporate structure and move to a single board, which meant the supervisory board, chaired by Lévy, and the management board, led by Sadoun, would effectively be combined.
Ads for mainly French brands such as Orange, Renault, Lancôme and Cartier played on the screen before the AGM began.
A slide, illustrated with a huge, French flag, showed how the group’s domestic business grew 11 per cent last year and its ad for Orange for the national women’s football team, Les Bleues, has been a viral hit.
Yet big shareholders know Lévy’s legacy has been to turn Publicis from a small, French player in European advertising, with 3,000 staff when he started as CEO in 1987, to a global player, with over 103,000 employees and 60 per cent of its revenues from North America.
This AGM was a moment of finality. Few leaders in any business, not just advertising, get to step down on such an elegant high after so long.
“I am very happy,” Lévy replied.
By Gideon Spanier, UK editor-in-chief at Campaign
