PGC wins case against former MD
Friday, November 22nd 2013, 5:02PM
Pyne Gould Corporation (PGC) has won an employment dispute against former managing director John Duncan. The Employment Relations Authority ruled Duncan was not entitled to a bonus of two million PGC shares which would currently be worth $880,000.
It also said he was not entitled to redundancy compensation.
PGC has to pay Duncan around $4000, comprising holiday pay interest and a penalty of $2000.
Events around the bonus payment led to the departure of Duncan in April 2012 following a breakdown in trust between him and the PGC board, PGC says.
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