MAM
Havas Chairman & CEO Alain dePouzilhac resigns
MUMBAI: Alain de Pouzilhac, chairman and CEO of French advertising company Havas, has resigned.
According to agency reports, de Pouzilhac’s departure was followed by a meeting of the Havas’ board in Paris, the first of such a gathering of the company’s management since he lost a battle with rival Vincent Bollore, Havas’ single-largest shareholder who has more than a 20 per cent stake in the company.
de Pouzilhac yesterday proposed to the board of directors a period of transition prior to the installation of a new chairman and chief executive officer. During this transitional period Richard F. Colker, an independent director of ten years’ standing and chairman of the audit committee, will exercise the functions of chairman and CEO, backed by a team of three directors: Ed Eskandarian, Fernando Rodés, Jacques Séguéla, who will take responsibility for the group’s executive functions.
The board of directors in turn approved the proposal and have brought to an end Alain de Pouzilhac’s term of office as Chairman and CEO of Havas. de Pouzilhac will continue to serve as a member of the BOD and to give the group the benefit of his advice and counsel.
The board will convene again in the near future in order to
consider ways of involving Havas’ employees in the Group’s development by means of new equity-based schemes, such as stock-options, bonus shares or other plans.
Martin Gollner analyst Bryan Garnier has earlier said that Havas’ (HAVS) turnaround in short-term would be unlikely if CEO Alain de Pouzilhac resigned. He was of the view that the current valuation of Havas already reflected the group’s turnaround and that a strategic sale would seem unlikely in the short term.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
