
Reuters reported that Mr Logan Kruger former chief executive of Century Aluminum Company was ousted after commodities group Glencore International took control of the US aluminum producer's board.
Mr Kruger's assertion is contrary to Century's announcement this week that said r Kruger had resigned. The difference could mean millions of dollars of additional pay due to him and he is suing his former employer in a bid to collect.
Mr Kruger said that "It's not true that I terminated myself. I was terminated involuntarily. I was ordered out of my office on November 11th 2011 by the chairman of the board and given an ultimatum to accept their offer by the end of November 14th 2011. I was left no choice but to pursue a legal remedy."
According to his employment contract, a voluntary departure would entitle him to USD 6.2 million package. But in the case of a change in control of the Monterey, California based company, he would be in line to receive USD 26 million.
Mr Kruger's lawyer said that Swiss based Glencore is arguing that there was no change in control, even though a Century shareholder meeting in June installed three of Glencore's representatives to the board, joining three others already on the 11 member board.
(Sourced from Reuters)










