The fusionex Diaries
The fusionex Diaries
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But this ask for via the owners of the company and its appointed directors and audit committee was denied by Ivan, all on the pretext of some “federal government directive” that prevented him from sharing fiscal data sought by Hitachi in a firm they owned, one hundred%.
But a clear photo emerges within the unusually thorough winding up petition submitted by Hitachi, viewed by DNA, exactly where Hitachi chronologically lists a series of steps by Ivan and his leadership group about a 15-month time period that is sweeping and spectacular in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.
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Btw, this non-cooperation also incorporated a senior secretary who refused to provide the new CEO, Hiroyuki Kumazaki, Along with the cellular quantities of every one of the senior Management workforce and who originally refused handy above her organization notebook to him. And when she did, it was located to have already been wiped clean (reformatted to erase all past data.)
“Cellphones received lesser and our gadgets can even shrink. We're setting up an ecosystem below for the Industrial Web for the human body and it will change client monitoring,” he states, confidently.
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“Fundamentally the company is winding down. There plenty of people who are anxious Along with the uncertainty. Given their expertise and their profile, most might have no difficulty acquiring a job shortly, that’s my guess,” claimed the worker.
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Hitachi court docket petition to wind up Fusionex, expose grim photograph of alleged unethical and irresponsible conduct by Ivan Teh and his senior Management
In line with its winding up petition, Hitachi stated it absolutely was alerted by Ivan in Sept 2023 that the corporation experienced suffered a sharp drop in try these out revenue accompanied by a surprising revelation from Ivan at a meeting on 27 Oct 2023 that it would want to chop fees, including instant retrenchments, with out which it will not be in a position to satisfy its financial obligations by Nov/Dec and the retrenchments would need significant compensation.
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