It had been not just the movement to wind up, even so the news that Ivan and a lot of of his leadership team Give up their jobs abruptly devoid of serving due notice and didn't execute their Skilled and fiduciary obligations with a correct handover of entry and documents.
Inside a penned response handed to Ivan within the day of the Assembly, Hitachi expressed grave problem around The shortage of communications and transparency by Ivan and his leadership crew more than the particular mother nature in the economic predicament of Fusionex.
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Hitachi put 5 of its executives as non-government administrators around the board with Ivan and his CFO, Chen Chiang as government directors.
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The petition incorporates a chronological get of astonishing events image source where by Hitachi accuses Ivan and users of his senior Management staff of, “refusal to supply very clear economic disclosures, the unexplained resignation of vital staff, and The dearth of any data of consumers, suppliers, and staff members which point out unethical and irresponsible business enterprise perform.”
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“There are actually truths, 50 % truths and some untruths of the assorted views and speculations available. I would say that we give Ivan some Room and if the dust settles, We'll know far more,” reported the executive.
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Hitachi court docket petition to end up Fusionex, expose grim picture of alleged unethical and irresponsible conduct by Ivan Teh and his senior Management
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