The shoot out the 2 Degrees corral gets Tex between the eyes

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wellygary

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#105776 10-Jul-2012 14:58

Looks like it is getting really ugly up in the rarefied air of 2Degrees senior management.....

"Simon "Tex" Edwards has failed to gain an injunction against the company's decision to disestablish his position as strategist with 2degrees.A decision by the Employment Relations Authority said it would hear substantive arguments from Edwards and 2degrees in August, but until then the company could go ahead with its plan to disestablish his position."

http://www.stuff.co.nz/business/industries/7254182/2degrees-founder-ousted-ahead-of-case

sleemanj

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#655176 13-Jul-2012 16:44

http://www.stuff.co.nz/business/industries/7275334/Edwards-wins-interim-injunction

2degrees co-founder Tex Edwards has secured an interim injunction from the Employment Court which prevents his job as company ''strategist'' from being disestablished today.

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James Sleeman
I sell lots of stuff for electronic enthusiasts...

freitasm

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#695604 3-Oct-2012 16:06

And the result:

2degrees co-founder Tex Edwards is set to receive over $1 million from 2degrees after the Employment Relations Authority ruled it had wrongly reduced his salary from $350,000 to $200,000 in 2008.

The authority ordered 2degrees make up the salary, plus interest, and pay Edwards compensation for backtracking on an agreement to offer him share options as part of an employee share option scheme, as well as a $4000 penalty.