Richemont shareholders reject activist investor's board candidate

Luxury goods group Richemont shrugged off pressure from Bluebell Capital as shareholders voted down the activist investor's board candidate at the annual general meeting (AGM) on Wednesday.

A majority of the Cartier maker's shareholders rejected Bluebell's candidate Francesco Trapani, a former executive of rival LVMH, to represent holders of publicly traded A shares on the group's board and instead opted for current board member Wendy Luhabe.