The board of Aegis has decided not to support the nominations of two external candidates put forward for election at the group’s annual general meeting.
However, the board believes that shareholders should be able to express their views and they will therefore put forward resolutions for shareholders to vote on at the AGM.
Because of the late notice at which Philippe Germond and Roger Hatchuel were proposed by Groupe Bolloré – which owns 27.56% of Aegis’ shares – the AGM has now been postponed until June 14.
Aegis’ board is against the nominations as Vincent Bolloré, as well as being chairman and owner of substantial interest in Groupe Bolloré, also occupies the same position at Havas, a major competitor of Aegis.
Lord Sharman, chairman of Aegis, said: “As a board, our primary duty is to create value for all our shareholders and that is what we will continue to do.
“Having considered the proposal from Groupe Bolloré, the board does not believe that these appointments would be in the best interests of all shareholders.”
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