A Simple Key For fusionex Unveiled

A Simple Key For fusionex Unveiled

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Hitachi court petition to wind up Fusionex, reveal grim image of alleged unethical and irresponsible carry out by Ivan Teh and his senior leadership

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A Hitachi Japan spokesperson advised DNA that Hitachi experienced no alternative but to close the business enterprise down, describing it since the “most careful program of motion to proactively deal with and minimise the impact to Absolutely everyone associated.

However the dust will not be going to choose this story as Ivan and his senior execs who left out of the blue are hoping for. Not when the answer to Hitachi’s drastic winding up software is laid bare within the comprehensive court submission.

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The management group as well as the CEO owe a fiduciary duty towards the Board and can't withhold any information and facts asked for by the Board,” he said.

This shift will strongly enhance, obtain and safe new customer bases, technologies and experience that Fusionex has cultivated in the Asian area

For Teh, the principle driver for this kind of go is his perception this article that Fusionex continues to be undervalued for a very long time available on the market. 

But this request because of the owners of the organization and its appointed directors and audit committee was denied by Ivan, all about the pretext of some “governing administration directive” that prevented him from sharing economic facts sought by Hitachi in a firm they owned, one hundred%.

As of publishing of this post, Ivan has not responded to DNA queries for getting his aspect of the Tale.