Kolmar Founder Sues Son as Sibling Energy Wrestle Erupts Over Company Management

THE WHAT?  The household feud inside Kolmar Group, certainly one of Korea’s largest cosmetics ODM gamers, has escalated as founder and chairman Yoon Dong-han filed a lawsuit in opposition to his son, Yoon Sang-hyun, over management of the holding firm.

THE DETAILS Kolmar Holdings confirmed that on Could 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 lately pushed for modifications 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 making an attempt 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 significant Okay-beauty conglomerate. Kolmar Korea’s robust Q1 cosmetics efficiency stands in distinction to rising uncertainty on the high. Regardless of the inner battle, Kolmar Holdings’ inventory jumped 29% following information of the authorized motion—signaling investor curiosity in a possible shake-up.

Supply: Korea JoongAng Day by day