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 Geoffroy?"
The filing also raised concerns about business decisions beyond payments. It suggested that Saks might receive priority access to Moncler products, such as popular jackets, because of van Raemdonck's position.
The complaint warned that even the appearance of favoritism could affect how other retailers, including competitors, view the situation.
Saks CEO faces 'conflict of interest' complaint over his Moncler board seat https://t.co/9h6jBYoYZ9 pic.twitter.com/a1P1cN7pTF
— New York Post (@nypost) March 25, 2026
Expert Says Saks CEO 'Stuck on Both Sides'
Moncler responded on March 5, saying it is reviewing the matter. The company stated it is "conducting the appropriate regulatory corporate governance and assessment" and added that it is working to prevent and manage any potential conflict of interest.
A spokesperson for Saks Global said the company had reviewed van Raemdonck's outside roles before hiring him.
The spokesperson explained that safeguards are already in place. "Protocols are in place under our longstanding conflict of interest policy, which have been discussed with Moncler, and a direct line of communication has been established between the companies to ensure continued compliance," the statement said.
According to TotalNews, experts say the situation puts the executive in a difficult position. Charles Elson of the University of Delaware said van Raemdonck is "stuck on both sides," with duties to Saks as a bankrupt company and to Moncler as a board member.
He added that the situation is "not a good look" for Moncler, which may want to avoid appearing to favor one creditor over others.
Saks Global filed for bankruptcy protection on January 14. As part of the process, a court is expected to review van Raemdonck's employment agreement, including his role at Moncler, with a decision anticipated in April.
Van Raemdonck joined Moncler's board in April 2025 after leading Neiman Marcus through its own bankruptcy and later overseeing its acquisition by Saks in a $2.7 billion deal.
Originally published on vcpost.com
