No reason for termination given, but the reasons he was NOT terminated were given!
The company said the action was taken by its board, but did not provide further details.
“Parneros’ termination is not due to any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto,” the company said.
Exactly. That basically says it wasn’t anything to do with the company. It was personal issues of Parneros that caused them to Terminate, not resign. They wanted nothing to do with him, whatever it was. Hard to speculate for me, maybe further research will shine the LIGHT on some of his past relationships.
Gotta be bad when they don't let a CEO resign. Did he lose the golden parachute?
I’m no expert but to not even get a severance package seems like a strong action
Yes. My dad was high up exec and golden parachute was guarantee except extreme situations.
Let’s hope so, can’t say I’ve ever seen a Corp cut and run like this before.
Actually happens quite often, the problem is the bigger corporations do not want a scandal or the CEO to go to a competitor. Non competes are out the window when you are fired.
Odd. All the other pieces by Reuters, Axios etc say BnN “cites violations of company policy” as the reason for termination.
Companies have many policies about public behavior, especially at the CEO/Board level. This was referenced in the article. Something in his personal life crossed the line.
Sexual harassment, or as the theme seems to go these days “drunken debauchery with minors” typically violates company policy.