Renown Inc, one of Japan's major apparel makers, has announced that all of its 5 board members will resign and the company will appoint a 47-year old planning department manager as its new president under a new restructuring plan.
The decision is aimed at ducking a proposal from Neoline Capital Co., the firm's biggest shareholder, to send three executives to the apparel maker's board to maintain initaitive in rebuilding its ailing operation. Neoline Capital, a consumer finance company and an investment fund operator, holds a leading stake of roughly 25% in the apparel maker.
Renown will seek to have the plan endorsed during its May 28 general shareholders meeting.
April 20, 2009
Subscribe to:
Post Comments (Atom)
1 comment:
We Offer Loan At A Very Low Rate Of 3%. If Interested, Kindly Contact Us Now.email us now reply to(fastloanoffer34@gmail.com) /whats-App Contact Number +918929509036
Post a Comment