Metallica facing tussle with suspended CEO
PERTH (miningweekly.com) – ASX-listed Metallica Minerals is facing a legal battle with suspended CEO and former MD Simon Slesarewich, who has brought a claim against the company in relation to his employment.
The Metallica board in February suspended Slesarewich, after announcing a process to review administration, management and corporate costs, as well as the reasons for the delay in the development of the Urquhart bauxite project.
Slesarewich has sought a declaration that he validly terminated his employment following the board’s decision to suspend his employment pending the investigation, and is seeking payments of his contractual entitlements.
Metallica said that the legal stoush started after the company refused to accept his resignation while a review of his conduct and performance was undertaken as part of the broader review into the company’s operations.
The company told shareholders that Slesarewich had been notified of matters pertaining to the Urquhart bauxite project review process, and that his participation would be required.
“The company has and will continue to afford Slesarewich procedural fairness in relation to the review. The board has determined it would be inappropriate and premature to make any decisions about Slesarewich’s employment, or about his entitlements, while investigations are ongoing,” the company said.
Metallica said that following the review, the board would address any issues identified in the recommendations, and would develop and execute on its strategic plan to focus on long-term value creation.
In the meantime, Metallica has engaged lawyers and will be defending the claim brought by Slesarewich.
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