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Kicking The Habit

OBSERVER: Kicking The Habit

Financial Times – Published: Nov 21, 2007

Richemont’s plan to quit smoking came too late for one of its directors.

The Swiss luxury goods conglomerate this week announced it was considering divesting its stake in British American Tobacco, but not before the group’s ties to “Big Tobacco” proved too toxic for Anson Chan, the former chief secretary of Hong Kong who is running in a high-profile December election to become a legislator.

Chan, who was only elected to Richemont’s board this September, was questioned by local media about her corporate ties on the campaign trail.

Richemont announced her resignation last Wednesday, saying Chan thought being on the board would be incompatible with her role as a legislator – that is, if she wins.

No word yet on whether Chan, who was the only Asian and one of two women on the board, would return if Richemont manages to kick the habit.

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