dyson to sue former chief executive max conze - latest air purifier

by:Yovog     2021-02-18
dyson to sue former chief executive max conze  -  latest air purifier
Dyson electric has sued former chief executive Max Conze for allegedly leaking company secrets and using the company's resources to benefit himself.
Max Kanzer stepped down in October and Sir James Dyson, founder of the British company, thanked him for that.
But the BBC has learned that according to the company, konze was fired on suspicion of a series of violations.
Kanzer denied the allegations and said it would cause "unnecessary interference" to Dyson's employees ".
These allegations include "disclosure of confidential information and breach of its fiduciary obligations ".
A spokesman for the company said: "Dyson's board of directors decided to file a claim with him at the London High Court for Max Kanzer's actions as chief executive.
"After managing Dyson's US business for a period of time, Mr. Kanzer was appointed to the position in 2011.
During his tenure as chief executive, sales of Dyson's products increased significantly.
Profits from vacuum cleaner and air purifier manufacturers rose 41% last year to 631 m.
These violations are said to include: "disclosure of confidential product information to third parties is a violation of Dyson's secrecy rules.
"Using Dyson's resources and information to assess investment opportunities for his own benefit and/or the interests of venture capital companies, not for Dyson's benefit --
Violated his fiduciary duties.
"Failure to follow legitimate and reasonable instructions regarding its conduct and focus.
In response, Mr Kanzer said: "I have done nothing.
In my six years as CEO of Dyson, sales and profits will double as the company grows from 2,500 to 10,000.
He said Dyson sold 13 million machines last year, up from 5 million in 2010.
"It would not have happened without my full commitment to the business and employees," he said . ".
Mr Kanzer added: "This absurd allegation is just an attempt to divert attention from the statements that Dyson knows I am about to make.
"Dyson will not comment on whether these violations are related to its project to build a new electric vehicle, which has been kept confidential and has not been disclosed until recently.
The lawsuit will be filed in the High Court on Wednesday.
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