Maurice Lévy, chairman and chief executive of the giant advertising and marketing services holding company Publicis Groupe, will step down from his post after 40 years.
The Guardian broke the news and received this statement from Lévy:
My contract is finishing at the end of 2011 and you can say that I will not be seeking a new term…There are strong candidates [inside Publicis Groupe] but it will be up to the board to make the decision and choose. As far as I’m concerned what I can do is make a recommendation which I will do.
Publicis Groupe consolidated its PR holdings under the MS&L Group banner in November 2009. The agency’s PR holdings include MS&L Worldwide, Publicis Consultants Worldwide, PublicisLive, Publicis Meetings, Emotion, Freud, and Kekst & Co.