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25 May 2013
Former AFS Group CEO Peter Daly plans to sue the dealer group for wrongful dismissal.
He told insuranceNEWS.com.au the matter is in the hands of his solicitors.
“I am not sure when the papers will be served as I have never done this before,” he said.
The proposed action follows his dismissal on May 21.
“There are elements of the (AFS) board that want to take the company in a different direction,” he said.
“The board had considered a range of alternatives for where the company should be heading. My direction was growth.”
Mr Daly says these options were discussed at a board meeting on May 8 and his proposal was accepted as the right strategy.
“The practitioner directors met after the board meeting and came back to me and the chairman, Barry Stephen, expressing their total confidence in the plan,” he said.
“Sometime between then and the 18th, the non-executive directors decided I no longer had the skillsets to take the company forward.
“The chairman wanted to see me on the 21st at 2pm and told me then despite everything I had done for the company, I didn’t have the skillsets to take the company into the future.”
Mr Daly claims his business plan has now been dropped.
“It is exceptionally disappointing as I was totally committed to the company,” he said. “The whole business has been a shock to me.”
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