Jetion Holdings, a solar-cell manufacturer, dismissed its chief executive and three senior managers for alleged “breaches of their service contracts and fiduciary duties”. The board dismissed the four staff on the grounds that they are operators and shareholders of a solar module producer and exporter that competes with Jetion. Roger Lijin Gai, former Jetion chief executive, had failed to disclose his wife was “a shareholder in the competing business”. Public records support the former report and reveal that the three managers have close relatives who are shareholders in the rival business.
Investigations into the circumstances continue, though the company decided that the decisive dismissal was best and may take further legal action. So far, it does not appear that the activities of the four have an impact on the finances and business operations of Jetion.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Non-executive Chairman, Gabriel Kow will serve as Interim CEO and Jetion is working to fill the roles of the dismissed managers.