THE WHAT? The household feud inside Kolmar Group, one in every of Korea’s largest cosmetics ODM gamers, has escalated as founder and chairman Yoon Dong-han filed a lawsuit towards his son, Yoon Sang-hyun, over management of the holding firm.
THE DETAILS Kolmar Holdings confirmed that on Might 30, Chairman Yoon demanded his eldest son return 2.3 million shares, initially transferred as a part of a succession plan. The transfer follows a public dispute between Yoon Sang-hyun, who manages the holding firm, and his sister, Yoon Yeo-won, CEO of Kolmar BNH, the group’s well being dietary supplements subsidiary. The son not too long ago pushed for adjustments to Kolmar BNH’s management, citing weak efficiency. His sister’s camp rejected the transfer, accusing him of undermining an agreed division of management. Their father, who stepped again from energetic administration in 2019, is now trying to reverse what he calls a breach of succession phrases.
THE WHY? The lawsuit marks a uncommon and public breakdown of succession planning inside a serious Okay-beauty conglomerate. Kolmar Korea’s sturdy Q1 cosmetics efficiency stands in distinction to rising uncertainty on the prime. Regardless of the interior battle, Kolmar Holdings’ inventory jumped 29% following information of the authorized motion—signaling investor curiosity in a possible shake-up.
Supply: Korea JoongAng Every day
