11:17:45 EDT Tue 16 Sep 2025
Enter Symbol
or Name
USA
CA



Davidstea Inc
Symbol DTEA
Shares Issued 26,948,465
Close 2025-09-15 C$ 1.17
Market Cap C$ 31,529,704
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Globe says family fight brews at Davidstea

2025-09-16 06:42 ET - In the News

The Globe and Mail reports in its Tuesday, Sept. 16, edition that Philip Segal, son of late DavidsTea founder Herschel Segal, is calling for a major leadership change, criticizing the company's "abysmal corporate governance" and claiming his half-sister is unfit as chief executive officer. The family dispute arose after Herschel Segal's death in May, with Philip Segal and his sister excluded from their father's will. Their only inheritance comes from a trust holding an interest in Rainy Day Investments, which owns nearly 45 per cent of DavidsTea. Rainy Day's shares in DavidsTea are controlled by Jane Silverstone Segal, the widow of Herschel Segal, who has voting control and serves as company board chair. Her daughter, Sarah Segal, has been CEO since December, 2020. "We can't sell the shares or vote," Philip Segal stated, noting that recent developments led him to re-evaluate the company's performance, starting with a blog post he published in August. He criticizes DavidsTea's management for years of net losses, filing for creditor protection in July, 2020, during the COVID-19 pandemic and closing over 200 stores. Despite continued losses since restructuring, the company forecasts a return to profitability this year.

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