Bluebell Capital Partners still wants a seat on the board of Richemont (CFR.S) after the luxury group called on shareholders to reject its candidate and vote for a current board member to represent ordinary investors.
“The company for the first time has acknowledged and agreed that a representative of the A shareholders should have the right to be represented on the board,” Guiseppe Bivona, co-CEO of Bluebell told Reuters on Monday. “This is a major win for the market.”
Bluebell’s candidate, Francesco Trapani, represented the best choice for the role, not independent director Wendy Luhabe who has been proposed by Richemont, Bivona added.
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