Former Ourhome Vice Chairman Gu Ji-eun Expresses Concerns Over Company Sale at General Meeting

Former Ourhome Vice Chairman Gu Ji-eun expressed concerns regarding the sale of company shares at the regular shareholders' meeting held on the 27th.

According to the food industry, former Vice Chairman Gu attended the shareholders' meeting held at the headquarters in Gangseo-gu, Seoul, and raised issues related to the sale of company shares, proposing a shareholder proposal to appoint former executives as inside directors.

Gu pointed out that the Ourhome owners, eldest son and eldest daughter Gu Bon-seong, former vice chairman, and Gu Mi-hyun, chairman, signed a stock purchase agreement with Hanwha Hotels & Resorts last month without going through board approval and the existing shareholders' preemptive purchase rights procedures.

The shares to be acquired by Hanwha Hotels & Resorts amount to 58.62% (13,376,512 shares), with the acquisition amounting to 869.5 billion KRW, and the closing date of the first stock purchase agreement is scheduled for the 29th of next month.

However, Gu's shareholder proposal was rejected at the shareholders' meeting that day.

Ourhome is a company where the children (one son and three daughters) of the late Gu In-hoe, founder of LG Group, and the late Gu Ja-hak, chairman of Ourhome, hold more than 98% of the shares. The owners, youngest son and second daughter Gu Ji-eun and Gu Myung-jin, have opposed the sale of company shares. Gu Ji-eun and Gu Myung-jin hold 20.67% and 19.6% of the company shares, respectively. Gu Ji-eun was appointed CEO of Ourhome in June 2021 and achieved the highest sales and operating profit in 2023 but left the board last year after being outmaneuvered by the eldest son-eldest daughter alliance aiming for management rights.