PARIS May 9 Publicis Chief Executive
Maurice Levy said the board of the advertising group backed him
after a $35 billion merger with U.S. peer Omnicom fell
apart because of a power struggle in what was billed a merger of
"I was very attached to the concept of equality and was not
ready to cede on this point," said Levy in an interview, adding
that a fight over who would be the chief financial officer was a
major reason for the fall-out.
"The board considers that we managed things correctly, and
they are 250 percent supportive of my decision," said Levy.
Levy, who is 72 years old, has been at the helm of Publicis
for more than 30 years and his succession was supposed to have
been resolved by the deal in which Omnicom boss John Wren would
have taken over.
"The next task for the board will be to plan for my
succession," he said.
(Reporting by Leila Abboud and Gwenaelle Barzic; Editing by