Saks CEO Accused of Potential Favoritism Toward Moncler in Bankruptcy Proceedings
Saks Global CEO Geoffroy van Raemdonck is facing scrutiny over possible favoritism toward Moncler as the retailer moves through bankruptcy proceedings.
Concerns have been raised that his dual role as Saks CEO and a Moncler board member could create a conflict of interest.
The issue surfaced in a February complaint filed through EthicsPoint, a platform used for anonymous reports.
The complaint questioned whether Moncler, which is owed about $6.3 million in the bankruptcy case, could receive better treatment than other creditors, NY Post reported.
It asked, "When vendors are paid off during bankruptcy and Moncler is paid a higher percentage than a different vendor, would it be due to the presence of........
