The conflict between the owner siblings over the management rights of the catering company Ourhome is gradually deepening.
This time, the eldest daughter of the second generation of the owner family, Koo Mi-hyun, has expressed her intention to become the CEO of Ourhome. Koo Mi-hyun has never participated in the management of Ourhome until now.
According to the food industry on the 30th, Koo Mi-hyun sent a letter to her younger brother and Ourhome shareholder Koo Myung-jin and youngest sister Vice Chairman Koo Ji-eun, stating her intention to "become the CEO."
Last month, Koo Mi-hyun was appointed as an inside director along with her husband, Lee Young-yeol, at the general shareholders' meeting.
Through the letter, Koo Mi-hyun also notified that she would side with her older brother, former Vice Chairman Koo Bon-sung, at the extraordinary shareholders' meeting to be held on the 31st.
Former Vice Chairman Koo Bon-sung proposed the appointment of eldest son Koo Jae-mo and former China Nanjing branch head Hwang Kwang-il as inside directors at the extraordinary shareholders' meeting. If Koo Mi-hyun sides with her brother, this agenda will be approved, and Vice Chairman Koo Ji-eun will have to leave the board.
Ourhome is owned over 98% by the late Chairman Koo Ja-hak's one son and three daughters. Former Vice Chairman Koo Bon-sung and eldest daughter Koo Mi-hyun hold 38.56% and 19.28% of the shares respectively, which combined exceed 50%.
If former Vice Chairman Koo Bon-sung's side takes control of the board, Koo Mi-hyun can become CEO as she wishes. There is also speculation that they may consider selling the company to a private equity fund (PEF) management firm afterward.
Some speculate that even if siblings Koo Bon-sung and Koo Mi-hyun take over management rights, it could lead to legal disputes.
The three sisters, Koo Mi-hyun, Myung-jin, and Ji-eun, signed an agreement in 2021 to exercise voting rights together, so if Koo Mi-hyun sides with her brother, it would violate the agreement.
The food industry estimates that the penalty fee imposed on Koo Mi-hyun could reach up to 120 billion won.
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