'Sibling Conflict' Ourhome to Appoint Inside Director at Extraordinary General Meeting on 31st

Ourhome, a catering company where the owner siblings are engaged in a 'sibling conflict' over management rights, has decided to hold an extraordinary general meeting of shareholders on the 31st to appoint a new inside director.

According to the food industry on the 14th, Ourhome's board of directors resolved to hold the extraordinary general meeting on the 31st. Although companies with capital of over 1 billion KRW must have at least three inside directors, only two inside directors were newly appointed at last month's general meeting, so additional inside directors must be appointed at the extraordinary general meeting. The terms of the existing inside directors, including Vice Chairman Gu Ji-eun, expire on the 3rd of next month.

At last month's general meeting, former Vice Chairman Gu Bon-seong rejected the proposal to appoint inside directors including his youngest sister, Vice Chairman Gu Ji-eun, and approved the appointment of his eldest daughter Gu Mi-hyun and her husband Lee Young-yeol as inside directors. The agenda for this extraordinary general meeting is reported to include the appointment of Gu Bon-seong's eldest son Gu Jae-mo and former China Nanjing branch head Hwang Kwang-il as inside directors, as well as the appointment of Gu Bon-seong himself as a non-executive director.

If former Vice Chairman Gu Bon-seong and Gu Mi-hyun join forces again as they did at last month's general meeting, the agenda could be approved. Ourhome's late Chairman Gu Ja-hak's one son and three daughters hold more than 98% of the shares. Gu Bon-seong and his eldest daughter Gu Mi-hyun hold 38.56% and 19.28% respectively, which combined exceeds 50%. Additionally, the second daughter Gu Myung-jin holds 19.6%, and the youngest daughter Vice Chairman Gu Ji-eun holds 20.67%.

Former Vice Chairman Gu Bon-seong and Vice Chairman Gu Ji-eun have been in conflict over the management rights of Ourhome. The eldest daughter Gu Mi-hyun sided with her older brother Gu Bon-seong in 2017 regarding the appointment of professional managers, but in 2021, she supported her youngest sister, establishing the current Gu Ji-eun vice chairman system.