Crocodile war: Lacoste family in French feud on ownership | World News - Hindustan Times
close_game
close_game

Crocodile war: Lacoste family in French feud on ownership

AFP | By, Paris
Oct 04, 2012 12:10 AM IST

A family feud at the top of the Lacoste clothing company is pitting father against daughter in a battle for management of the green Crocodile brand.

A family feud at the top of the Lacoste clothing company is pitting father against daughter in a battle for management of the green Crocodile brand.

HT Image
HT Image

Michel Lacoste, 69, has decided to seek a court ruling against the company board’s nomination of Sophie Lacoste-Dournel as non-executive president, which he told the daily Le Monde was an “irregular” decision “by an irregular board.”

Hindustan Times - your fastest source for breaking news! Read now.

Lacoste told the newspaper that his 36-year-old daughter, who has studied business and loves theatre and acting, “hasn’t spent a day of her life in a business and is not able to manage a successful company.” He would prefer that his niece, Beryl Lacoste-Hamilton, 56, take over and points out that she has already run several of the firm’s licenced affiliates, which sell a wide range of casual clothes.

When contacted, the Lacoste group declined to comment.

Sophie Lacoste-Dournel was named last Monday by a board elected the same day, which her father claims was stacked against him by a minority shareholder. She said in a statement that “in giving me their confidence, Lacoste shareholders and members of the management board have validated my project for the company.”

The new executive also expressed “great pride at having been chosen to lead the process of generational transition,” and be the “guarantor of the family’s values with respect to shareholders, the company, its staff and partners.”

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away! - Login Now!

Get Latest World News along with Latest News from India at Hindustan Times.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On