Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

COMPAGNIE FINANCIÈRE RICHEMONT SA

(CFR)
  Report
Delayed Swiss Exchange  -  11:31 2022-09-28 am EDT
96.40 CHF   -0.25%
09/27RICHEMONT : Gets a Neutral rating from Bernstein
MD
09/23RICHEMONT : Gets a Buy rating from Goldman Sachs
MD
09/22SBG Securities Lowers Price Target on CIE Financiere Richemo, Maintains Buy Recommendation
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Richemont investor Bluebell rejects luxury group's arguments against board candidate

08/16/2022 | 04:23am EDT

ZURICH, Aug 16 (Reuters) - Richemont investor Bluebell Capital Partners on Tuesday rejected claims by the Cartier jewellery maker that its candidate for the luxury company's board would not act independently.

"The reasons indicated by Richemont’s Chairman Mr. Johann Rupert against the designation and appointment of Mr. Trapani are specious and unreasonable," the London-based investment firm said in a statement, adding Trapani had ceased to hold "any executive position, directorship and advisory role" at Richemont rival LVMH in 2016.

Richemont on Monday urged shareholders to vote against appointing Bluebell co-founder Francesco Trapani to its board at the annual general meeting on Sept. 7, citing his links to LVMH.

Bluebell pointed to Richemont's recent appointment of a former Hermes executive as an independent director and said a Swiss corporate governance code recommended a cooling off period of only three years.

It also said Richemont's board lacked an independent director with "core skills in hard luxury" and said Trapani's expertise in luxury watches and jewellery would be "an invaluable asset" to Richemont.

Bluebell said Trapani was no longer representing Bluebell because he had stepped down as chairman at the end of last year.

South African billionaire Johann Rupert controls Richemont via non-listed B-shares which represent 9.1% of the capital, but 50% of the voting rights, which means he gets the final say on who gets elected to the board.

Richemont shares were 1.9% lower at 0806 GMT. (Reporting by Silke Koltrowitz and John Revill Editing by Paul Carrel and Mark Potter)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
COMPAGNIE FINANCIÈRE RICHEMONT SA -0.25% 96.4 Delayed Quote.-29.43%
HERMÈS INTERNATIONAL 2.36% 1212.5 Real-time Quote.-22.88%
LVMH MOËT HENNESSY LOUIS VUITTON SE 1.49% 613.2 Real-time Quote.-16.89%
All news about COMPAGNIE FINANCIÈRE RICHEMONT SA
09/27RICHEMONT : Gets a Neutral rating from Bernstein
MD
09/23RICHEMONT : Gets a Buy rating from Goldman Sachs
MD
09/22SBG Securities Lowers Price Target on CIE Financiere Richemo, Maintains Buy Recommendat..
MT
09/21CIC Market Solutions Lowers Price Target on CIE Financiere Richemo, Maintains Buy Recom..
MT
09/21COMPAGNIE FINANCIÈRE RICHEMONT SA : Ex-dividend day fo..
FA
09/21COMPAGNIE FINANCIÈRE RICHEMONT SA : Ex-dividend day fo..
FA
09/20RICHEMONT : JP Morgan reiterates its Buy rating
MD
09/19AlphaValue/Baader Europe Lowers Price Target on CIE Financiere Richemo, Upgrades Recomm..
MT
09/15Global markets live: Microsoft, Tesla, Shell, Adobe, Disney...
MS
09/15AlphaValue/Baader Europe Lowers Price Target on CIE Financiere Richemo, Maintains Add R..
MT
More news
Analyst Recommendations on COMPAGNIE FINANCIÈRE RICHEMONT SA
More recommendations
Financials
Sales 2023 21 172 M 20 322 M 20 322 M
Net income 2023 2 997 M 2 877 M 2 877 M
Net cash 2023 1 691 M 1 623 M 1 623 M
P/E ratio 2023 18,6x
Yield 2023 2,57%
Capitalization 58 043 M 55 714 M 55 714 M
EV / Sales 2023 2,66x
EV / Sales 2024 2,39x
Nbr of Employees 35 853
Free-Float 89,2%
Chart COMPAGNIE FINANCIÈRE RICHEMONT SA
Duration : Period :
Compagnie Financière Richemont SA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COMPAGNIE FINANCIÈRE RICHEMONT SA
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 101,64 €
Average target price 136,47 €
Spread / Average Target 34,3%
EPS Revisions
Managers and Directors
Jérôme Lambert Group Chief Executive Officer & Executive Director
Burkhart Grund Group Chief Finance Officer & Executive Director
Johann Peter Rupert Executive Chairman
Ruggero Magnoni Independent Non-Executive Director
Guillaume Pictet Independent Non-Executive Director