Aegis, owner of media agencies Carat and Vizeum, said that 91% of non-Groupe Bollore shareholders opposed Bollore's two proposals: one to appoint Philippe Germond as a board director; and the other to appoint Roger Hatchuel as a director.
Bollore owns 29.9% of shares in Aegis, and argues that this gives him the right to representation on the board. However, he is chairman of rival ad group Havas, and Aegis says this is a clear conflict of interest.
Colin Sharman, chairman of Aegis, welcomed the result. He said: "Our shareholders have overwhelmingly rejected the Groupe Bollore resolutions five times in two years. Today's vote makes it crystal clear that the vast majority of independent shareholders voting recognise the innate conflict of interest represented by the nominees of a competitor's chairman and largest shareholder.
"This is the fifth time shareholders have shown they do not want Groupe Bollore represented on the Aegis Board. It is our hope that Groupe Bollore will finally listen to the voice of its fellow shareholders and respect shareholder democracy and good corporate governance."
However, a report in the Financial Times today quotes sources close to Vincent Bollore, saying that he intends to press ahead with another request for representation.
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