Thursday , June 20 2024

Former CEO sues Pacific Gas, seeks reappointment


Nguyen Thanh Tung, former CEO of gas trader Pacific Gas is suing the company for firing him without reasonable cause, and is demanding to be reappointed.

Tung, 44, signed a three-year contract with chairman of Ho Chi Minh City-based Pacific Gas, Katsumi Kajiwara, in January 2020.

Tung owns a 48.94% stake, while Japan’s Air Water Inc had a 51% stake in the company.

But in February 2021, Tung was forced to resign and his contract was terminated.

Tung, however, said that the company violated the laws in terminating his contract.

He therefore sued the company for VND1.5 billion (US$63,400) compensation.

Pacific Gas, however, said that it fired Tung after discovering that he had carried out violations that caused damage to the company.

He allegedly made deals with his own companies, and directed the head accountant of Pacific Gas to pay him more than the monthly salary that was agreed in the contract.

The company is now seeking VND3.3 billion compensation from Tung for increasing his own salary without approval and causing business damage to the firm.

Thu Duc People’s Court in HCMC in January ruled that Pacific Gas had violated the law in terminating its contract with Tung without his approval.

It said that the company had to compensate Tung over VND5.4 billion for all the days that he was not allowed to work, among other benefits.

Tung also had to pay back Pacific Gas VND1.3 billion in salary difference and VND615 million in bonus that he unreasonably received in 2020.

Both parties have sought an appeal.

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