Family feud yields sour grapes at French drinks empire Castel
The ruling will decide whether chief executive Gregory Clerc returns or is removed permanently after family shareholders accused him of trying to seize control.
4 Articles
4 Articles
Africa: Family Feud Yields Sour Grapes At French Drinks Empire Castel
A court in Singapore is preparing to decide who controls the Castel Group, a family-run French beverage business that has grown to be one of the largest drinks companies in Europe and Africa - and is currently the subject of a power struggle between two of the founder's relatives and the CEO, the first person outside the Castel family to run the multibillion-euro business.
Family feud yields sour grapes at French drinks empire Castel
A court in Singapore is preparing to decide who controls the Castel Group, a family-run French beverage business that has grown to be one of the largest drinks companies in Europe and Africa – and is currently the subject of a power struggle between two of the founder's relatives and the CEO, the first person outside the Castel family to run the multibillion-euro business.
The battle around the governance of the structures holding the Castel Group takes on a judicial dimension. Ten of the twelve economic beneficiaries concerned contest the maintenance of Investment Beverage Business Management (IBBM) in its current configuration and have initiated proceedings before the Singapore courts. They oppose in particular the steps taken by Romy Castel to appoint three...
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