Shareholders of Ourhome reject ex-CEO's attempt to oust his sister from the helm

Pulse 2022. 6. 30. 15:15
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[Source: Ourhome]
Shareholders of LG Group’s catering unit Ourhome forced to congregate upon court order denied the motion by former vice chairman and CEO Koo Bon-sung to replace board members, keeping the current management under his youngest sister Koo Ji-eun intact.

Koo Bon-sung, the only son of the Ourhome owner family, requested the dismissal of the 21 directors appointed by his youngest sister and current CEO and vice chairperson Koo Ji-eun to replace them with 48 new directors including himself at the extraordinary shareholders’ meeting on Thursday. Both counts were rejected.

He pushed for the appointment of new directors as he needs to obtain approval from two-thirds of the board of directors to conduct the sale of his company stake. Bon-sung has been seeking to sell his 38.6 percent stake and the eldest daughter,
Koo Ji-eun and Koo Bon-sung
Koo Mi-hyun’s 20.06 percent stake after she joined her brother in April to unload her share.

The move to replace the current board of directors was also seen as a way to regain his management rights after he was ousted from his position in June last year by his three sisters - Mi-hyun, Koo Myung-jin, and Ji-eun – for Ourhome’s lackluster business performance and his road rage scandal.

Neither Mi-hyun nor her proxy showed up at the extraordinary shareholders’ meeting, most likely because the court limited her voting rights.

Mi-hyun was seen to have sided with her brother during this round of the sibling feud after deciding to sell her company stake, but she later released a statement distancing herself from the extraordinary shareholders’ meeting.

The three sisters in the owner family hold a combined 59.6 percent stake and Bon-sung 38.6 percent, amounting to a total 98 percent stake in the company.

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