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Havas Names a New CFO

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BOSTON Havas said it has named Hervé Philippe chief financial officer. He succeeds Jacques Hérail, who had been with the company since 1984, serving as CFO for nearly 10 years.

Philippe, 47, will report to Havas chief executive officer Philippe Wahl.

"Hervé Philippe comes to his new role after having acquired broad international experience within the high-tech and electronics group Sagem," said Wahl, in a statement. "He also has a strong understanding of financial operations."

Philippe joined Sagem in 1998 and was appointed CFO in 2001. Prior to that, he served as director of the corporate finance division of the Commission des Operations de Bourse, the French stock exchange regulatory authority, where he worked for nine years.

"After many years spent at Sagem, I am looking forward to devoting all my energy to helping achieve the goals of a worldwide communication group like Havas," said Philippe.

Havas has undergone significant changes this year, starting in June with the acrimonious departure of CEO and chairman Alain de Pouzilhac, who was engaged in a struggle with Havas shareholder Vincent Bolloré over the latter's desire to place himself and several associates on the company's board.

In July, Bolloré took the chairman's title and Wahl, a prominent French banker, was named CEO.

Havas has said it plans a strategic reorganization before year's end but has not disclosed details. Paris-based Havas owns Arnold, Euro RSCG and Media Planning Group.

Bolloré through a separate company is also the largest single Aegis Group shareholder.

—Adweek staff report