Global communications network Havas announced this week that its global CEO, David Jones, will be leaving the company to become co-founder and CEO of a new tech start-up.
Jones will be replaced by Yannick Bolloré, the 33 year-old son of controlling shareholder Vincent Bolloré. Andrew Benett, co-president, Havas Worldwide, is promoted to CEO of the advertising network and will report to Bolloré junior.
Jones, who is also co-founder of One Young World, leaves the group by agreement with Havas’s management and will be retained as advisor to the Havas Chairman and CEO throughout 2014.
“It’s a very exciting time for Havas,” said Yannick Bolloré “We are well on our way to realising our goal of being the most integrated and innovative communications group of our industry.
“I would like to thank David for the impact he has made at Havas over the last 15 years. Thanks to his talent, David has contributed significantly to the improvement of the results and organisation of the Group and its standing amongst clients and in the industry. I wish him all the best for his future business.”
However, speaking to the Wall Street Journal, Charles Bedouelle, an analyst at BNP Paribas, said Jones’s sudden departure was surprising. “We would expect shares to react negatively given the increased uncertainty,” he said.
Commenting on his departure, Jones said: “If I were going to stay in the industry it would be at Havas, but I have always had a burning desire to be an entrepreneur and this is too exciting an opportunity to not seize. Those people who know me know my two passions in business are social media and social responsibility and this new venture combines the two.
“I want to thank the Bolloré Group and Vincent Bolloré in particular for his support and mentorship over the last eight years and wish Yannick every success.”
The leadership changes are effective immediately.
