Richemont targeted by activist shareholder Bluebell Capital Partners

Sumary of Richemont targeted by activist shareholder Bluebell Capital Partners:

  • In the past, the activist shareholder has made a name for himself with a tug-of-war with the British pharmaceutical company GlaxoSmithKline and the French food company Danone.
  • The proposals will be presented to the shareholders at the next general meeting on 7 April.
  • The shares of the Swiss group, which generates more than half of its sales from jewelry but is also active in watches, fashion and accessories, are split into two stock categories.
  • Shareholder Bluebell is also calling for the company’s Articles of Association to be amended to increase the minimum number of directors to six, while ensuring that A and B share representatives are represented on equal terms.
  • The Board of Directors is in the process of “considering these proposals,” the Richemont Group further explains.
  • The Richemont headquarters in Geneva, designed by Jean Nouvel – Richemont The activist shareholder demands in particular that in the future there must be at least one representative of the A shares on the board of directors, as the luxury group announced in a brief statement.
  • Swiss luxury group Richemont is being targeted by activist shareholder Bluebell Capital Partners, who are calling for board changes.

Want to know more click here go to news source.