Three Treasures: Spoiled Wife Goes Wild-Chapter 1674: Shareholders and Board of Directors

Taking advantage of the momentum of Charlotte Thompson’s new brand, Riley Group issued an official statement.

A subsidiary of Riley Group is about to be established, and several key projects, including the brand launched by Charlotte, will all be transferred to the subsidiary.

This announcement has caused quite a stir in the industry.

Riley Group already holds a pivotal position in the fashion world, and now, with the momentum of the new products, opening a subsidiary is indeed a significant impact for some companies.

For outsiders, the news of Riley Group’s subsidiary establishment came unexpectedly. 𝗳𝗿𝐞𝕖𝘄𝗲𝕓𝗻𝚘𝚟𝕖𝐥.𝚌𝕠𝕞

Immediately, there were reports from insiders of Riley Group claiming that the subsidiary had long been in preparation, and that this time, Charlotte’s brand seemed to be a trial.

"Does the enormous success of the new product launch mean that the subsidiary can soon go public and operate?"

At this time, Riley Group was holding a board meeting, where the decision on the subsidiary was discussed once again.

The suggestion to establish the subsidiary was made by Justin Battleson.

However, there have been many shareholders opposing it from the beginning.

Even now, when the subsidiary is already formed and Charlotte’s brand has made a huge success, some still hold opposing views.

"I still think that the current development of the Group makes it unnecessary to establish a subsidiary, as it will only weaken our company’s strength."

"But establishing a subsidiary is certainly justified. Expanding operations will only bring profits to the company."

"Setting up a new company requires a lot of manpower and resources. The company was affected previously due to George Robbins’ incident, and operations have only recovered recently. Establishing a subsidiary now is not a good decision."

"That’s right. If the company were just developing new businesses, there wouldn’t be an issue, but now it’s not only about taking away Mr. Thompson’s brand, but even many projects of the company could be affected to develop the subsidiary. I think it’s somewhat unnecessary. A subsidiary is acceptable, but relocating the projects is definitely out of the question."

Inside the board meeting, the shareholders held different views.

Everyone was seriously discussing, but Justin Battleson, who initially proposed the idea, remained silent on the side.

Charlotte Thompson was also present at the board meeting.

She had invested in the company under the name of Allen Corporation. Watching the intense discussions among the shareholders, Charlotte finally directed her gaze at Justin Battleson.

However, because this brand launch was by Charlotte, many present were quietly observing her reaction.

"Mr. Battleson, now that the subsidiary is basically formed, the only issue to resolve is the businesses taken from the company. If you intend to transfer Mr. Thompson’s brand over, then is the new managerial position of the subsidiary going to fall on Mr. Thompson?"

A senior shareholder, Mr. Carter, finally shifted everyone’s attention to Justin Battleson.

And he voiced the concern that existed in many people’s hearts.

In fact, when the proposal to set up a subsidiary was first made, many speculated whether Justin Battleson would place the subsidiary under Charlotte Thompson’s management.

However, no matter what, the management position of the subsidiary is a coveted role, and many shareholders within the board were quietly envious.

"Although Mr. Thompson’s contribution to the success of the company’s brand is irreplaceable, managing a company is still different from launching a design brand. Mr. Thompson, albeit having invested in the company, is essentially still just a designer. Company matters may not be very suitable for Mr. Thompson."