Richemont fund manager requests board change

Compagnie Financière Richemont has said that Bluebell Capital Partners, a fund manager, has requested a number of board changes be added to the agenda for the luxury conglomerate’s upcoming annual meeting.

As part of its request, Bluebell is asking that the company designates a representative of the holders of ‘A’ shares, which are listed on the SIX Swiss Exchange, and elect that representative to the group’s board.

It is also requesting to increase Richemont’s minimal number of board members to six and each of its ‘A’ and ‘B’ shareholders to have an equal number of representatives.

Richemont said it will be submitting the proposals to shareholders at the upcoming meeting, which is to be held on September 7.