Tensions grow between Descente and major shareholder
11/02/2019
Itochu directors spoke in January about an ambitious expansion for Descente in China, while brand president, Masatoshi Ishimoto, a member of the family that founded Descente in the 1930s, expressed concern about the effect this might have on product quality.
More recently, Itochu launched a campaign to acquire even more Descente shares. “This announcement was made unilaterally, with no prior notification to our board of directors, nor any opportunity for advance consultation,” Descente said in a statement.
It added that a counter-move to take Descente back into private ownership is a possibility.
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