Havas Dissident Wins Board Seats

Havas (HAVS) shareholders embraced dissident Vincent Bollore on Thursday, giving him four seats on the ad firm's board.

At a highly charged shareholders meeting in Paris, Bollore shrugged off talk that he plans to dismantle the company. "I'm no Darth Vader," the corporate raider said. Bollore, who has taken a 20% stake in Havas, has made no secret of his doubts about current management, however. He'll control nearly a third of the 13-member board.

Speculation has swirled around the company since Bollore Medias Investissements took a big stake in Havas last year. Bollore's nomination of four directors was loudly opposed by Havas Chairman Alian de Pouzilhac and the rest of the Havas board.

Bollore has called for an end to the bitter dispute between himself and de Pouzilhac over the company's future. De Pouzilhac has refered to Bollore's actions as a "creeping takeover" that is hurting it competitively.

The fifth-largest advertising network in the world, Havas owns Euro RSCG Worldwide, Media Planning Group and Arnold Advertising and boasts clients including Charles Schwab (SCH) and Ford's (F) Jaguar.

Sources said that the Rodes family, which controls Media Planning Group, voted in favor of Bollore's nominations in a move that surprised some. Fernando Rodes Villa is the chief executive of MPG.

Shareholders also voted down a proposal to buy back shares for a stock option program.

On Thursday shares in Havas were down a dime at $5.58.

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