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Hong Kong's Giordano loses fight with tycoon Cheng as CEO voted out

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.