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.
Non-executive Chairman, Gabriel Kow will serve as Interim CEO and Jetion is working to fill the roles of the dismissed managers.