Feature

Diary: Eskandarian remaining part of the Havas jet set

No golden parachute for Ed Eskandarian, who stepped down as the boss of Arnold Worldwide at the beginning of this year. Quite the reverse, in fact.

The newly published 2006 annual report of Arnold's Havas parent reveals that Eskandarian, who remains a consultant to Arnold, is being allowed to stay airborne through a subscription to a private aircraft company "for his professional travel".

Meanwhile, happy landings are assured, with Havas picking up the tab for his club fees, as well as supplementary health and provident plans. Sadly, though, Eskandarian will have to scrape by with a 24-month compensation package that will pay him a mere $500,000 a year until February 2009.

Jacques Seguela, the Havas creative guru, and Fernando Rodes Vila, the chief executive, are also revealed as having attractive revised contracts. What's more, they'll be able to check the small print while lolling on the back seat of their chauffeur-driven company cars.

Clearly, Havas subscribes to the notion that if you pay peanuts, you only get monkeys. Mind you, it helps when the top banana is Vincent Bollore. Forbes magazine ranks him as the 292nd richest man in the world, with a commercial empire that embraces plastics, fuel distribution, airport ticket scanners and the entire Cameroon railway system. His estimated personal fortune: £1.6 billion.

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