ICC sets $25m value on Zaugg's 47% Scott stake
The International Chamber of Commerce (ICC) has set a provisional valuation of just under 20 million Swiss francs (US$25 million) for Beat Zaugg's 47% shareholding in Scott Sports, ordering the former CEO to sell his remaining stake to the current majority owner, Youngone Corporation. The ICC valuation marks a sharp decline from 2015, when Zaugg sold a comparable proportion to Youngone for US$169 million.
The Korean outdoor apparel and footwear company, which now owns 97% of Scott Sports, will pay three-quarters of the sum to Zaugg imminently, while the remaining is placed in a trust until its definitive price is confirmed.
Ronan Mc Laughlin
The December valuation follows the ICC's February 2025 ruling that cleared Youngone to enforce a disputed purchase option over Zaugg's shares, ending a power battle that started in 2022, when Youngone sued the former CEO at ICC for breach of the shareholder agreement. The dispute escalated in 2024, shortly after Youngone injected the company with US$188 million in emergency funding and months later, removed Zaugg as CEO. While Zaugg refused to accept the change, Juwon Kim and long-time Scott executive Pascal Ducrot were confirmed as co-CEOs in August 2024 to refocus on Scott's bike business, which accounts for 80% of the company's revenue.
