Jacques Herail, chief financial officer at Havas, is reportedly negotiating a severance package with the company, according to French daily newspaper Le Monde.

Although Havas - the globe's fifth largest marketing services holding company - declined official comment, a spokeswoman let slip: "I am not denying that [Herail is] leaving but I am not going to respond to rumors."

Herail's hand has been on Havas' financial tiller since 1992. His departure, if involuntary, would mark the second plank-walk since financial speculator Vincent Bolloré seized control of the company and engineered the departure of chairman/ceo Alain de Pouzilhac [WAMN: 23-Jun-05].

News of Herail's likley departure comes less than two weeks after the company warned of a "strong slowdown" in revenue growth for the current quarter. It also intimated that profit margins will be lower than forecast.

Havas has said it will present a new corporate strategy to analysts and investors next month.

Data sourced from Wall Street Journal Online; additional content by WARC staff