Colowide Ootoya's management team policy to request a major replacement September 16 16:59
Colowide, a major restaurant that has become a major shareholder holding more than 47% of the shares of the set meal chain Ootoya Holdings through a tender offer, will hold an extraordinary general meeting of shareholders of Ootoya in November. , Revealed a policy calling for a major replacement of management.
Colowide has become a major shareholder holding more than 47% of Ootoya Holdings' shares through a takeover bid for TOB = shares, and has continued discussions with Ootoya to seek a renewal of its officers.
Regarding this, Colowide announced on the 16th that it will dismiss 10 of the 11 directors of Ootoya and request that 7 new directors be appointed from the Colowide side.
Colowide will propose this personnel case at the extraordinary general meeting of shareholders of Ootoya, which is scheduled to be held in early November.
Initially, Colowide had a policy of proposing the dismissal of all current directors, but in order to facilitate future business, Mr. Masaya Yamamoto, the former president of the operating company "Ootoya", will be excluded from the dismissal.
Ootoya continues to be unable to predict a recovery in business performance due to the effects of the new coronavirus, and Colowide has significantly replaced the management team of Ootoya, and some of the cooking done in the store is a common kitchen. We would like to promote cost reduction measures such as consolidating into the kitchen and rebuild management.
Regarding the request for the replacement of the management team on the Colowide side, Ootoya Holdings commented, "It will be left to the judgment of shareholders at the extraordinary general meeting of shareholders, but I would like to answer again after considering the response at the board of directors." ..