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CANNES, France—Procter & Gamble, the world’s largest advertiser, plans to invest in nonprofit Free the Bid with HP and Publicis so that the companies can help double the number of directors and broaden the effort to 20 more countries in the next three years. That announcement could significantly change what the industry is like for female directors—and that was just one of the initiatives Free the Bid pushed to make sure female directors were seen and heard during the Cannes Lions Festival of Creativity.