Rupert on Richemont’s rumble with LVMH
Johann Rupert’s hackles are up over a push by activist investor Bluebell for a Richemont board shake-up, which he says will usher in archrival LVMH
Johann Rupert sounds weary. In an interview with the FM to discuss the machinations of activist investor Bluebell — which is pushing for a former LVMH executive to join the board — Rupert says: “There’s no way you can have that guy in our inner circle.”
The chair of Richemont — one of the JSE’s most valuable listed companies — cites an upcoming powwow with all Richemont divisions. “In November we’ve got two weeks with all the Richemont companies that come and present their strategies, their budgets and which products they want to launch from April 1 next year... there’s no way in which I’m going to allow one of [LVMH CEO Bernard] Arnault’s trusted friends into those sessions.”..
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