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Giordano CEO voted out after fight with Hong Kong tycoon Cheng

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

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

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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