As the possibility of a management conflict at Kolmar Holdings rises, the stock price is soaring.
As of 10:15 a.m. on the 18th, Kolmar Holdings is trading at 11,580 won, up 2,910 won (23.72%) from the previous trading day.
Kolmar BNH noted that founder Yoon Dong-han filed a lawsuit against Vice Chairman Yoon Sang-hyun for the return of Kolmar Holdings shares. Yoon Dong-han reached a management agreement in 2018 with Vice Chairman Yoon Sang-hyun and CEO Yoon Yeo-won regarding the governance structure of Kolmar BNH. The agreement stated that Vice Chairman Yoon Sang-hyun would manage Kolmar Holdings and the Kolmar Group, while CEO Yoon Yeo-won would manage Kolmar BNH. Subsequently, he gifted 2.3 million shares of Kolmar Holdings to Vice Chairman Yoon Sang-hyun in 2019.
However, a lawsuit has been filed to return the gifted shares due to recent conflicts over management rights between Vice Chairman Yoon Sang-hyun and CEO Yoon Yeo-won. Yoon Dong-han's side explained, "This is an action taken due to Vice Chairman Yoon Sang-hyun's abuse of the major shareholder's authority and an attempt to unilaterally change the agreed succession structure."