Giordano CEO voted out after fight with Hong Kong tycoon Cheng

New World chief picks new management for struggling Jimmy Lai-founded apparel chain

20240403N Giordano Hong Kong

Giordano, known for affordable casualwear, once inspired Uniqlo founder Tadashi Yanai. (Photo by Kensaku Ihara)

KENSAKU IHARA and PEGGY YE, Nikkei staff writers

HONG KONG -- Shareholders in Hong Kong apparel maker Giordano International voted Wednesday to oust its CEO, as a company that once inspired the founder of Uniqlo faces mounting pressure from its top shareholder over long-languishing earnings.

A proposal to remove Peter Lau passed 66% to 34%, according to results announced after an extraordinary shareholders meeting. He was also voted off the board.

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