(AOF) – Richemont has published the notice of meeting for its next general meeting on September 7. In this opinion, the luxury giant recommends “after careful consideration” to vote against the nomination of Bluebell’s nominee as representative of the holders of ‘A’ shares and against the election of this person to the board of directors. The board proposes the election of its independent director, Wendy Luhabe, as representative of the holders of “A” shares, in place of the candidate proposed by Bluebell, namely Francesco Trapani, former director of Bulgari and co-founder of the activist fund.
The board also recommends voting against the amendments to the company’s articles of association proposed by Bluebell.
The board will provide further information on its recommendations regarding Bluebell’s proposals in its letter to shareholders.
Bluebell wants to increase the minimum number of board members to six and have an equal number of representatives of shareholders owning ‘A’ and ‘B’ shares on the board. Richemont chairman Johann Rupert owns all of the unlisted ‘B’ shares, which represent 51% of the company’s voting rights.
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