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Richemont Says Ex-Bulgari CEO Is Inappropriate for Board

  • Activist Bluebell proposed Francesco Trapani join the board
  • Swiss group says Trapani spent years working with rival LVMH
Francesco Trapani

Francesco Trapani

Photographer: Goh Seng Chong
Updated on

Richemont, the maker of Cartier jewelery, said shareholders should vote against the appointment of Francesco Trapani to the board because he is too closely associated with arch-rival LVMH. 

In a ratcheting up of the battle between the luxury group and activist investor Bluebell Capital Partners Ltd., which proposed the appointment, Richemont said Trapani is an “inappropriate candidate” and his election is not in the interest of the company.