The legal conflict between former CEO Andrew Price and Paperlinx,- which is now Spicers has reached an end, however Price since has condemned the paper merchant for underperforming and its ‘unacceptable profits’ following his widely publicised litigation.
Price confirmed to ProPrint his unfair dismissal lawsuit, which he launched against Spicers last year, is now at an end, the paper merchant forced to pay Price’s litigation costs after a year-long legal battle.
Following his resolution with Spicers, Price has since slammed the paper supplier for its financial shortfalls and says he is ‘deeply concerned’ about the company’s ‘underperformance’.
“I am pleased to say that all issues between myself and Spicers are now at an end. My case regarding the termination of my employment has been settled following a court ordered mediation,” says Price.
“Although I have moved on in my professional life, as a top ten shareholder in Spicers, I remain deeply concerned about its underperformance.
The European and Canadian business are gone, with no ongoing benefit to shareholders, the recent profit was totally unacceptable, and there is still no resolution to issues with the hybrid shareholders.”
Price argues that despite Spicers’ long history, he believes his former employer is at a standstill and remains without a plan to resolve its ‘ongoing issues’.
“Spicers is a great company, with great employees and a long prestigious history dating back centuries, but these problems won’t fix themselves and appear to be getting worse. As far as I can see, the board does not have a plan to deal with these issues,” adds Price.
[Related: Price to Paperlinx: See you in court]
Price’s lawyer confirmed to ProPrint the legal conflict between Spicers and its former boss has reached a conclusion following a court ordered mediation.
“The court ordered the parties to attend a mediation and the case was settled following the mediation. This application is now at an end and Spicers were ordered to pay Andrew’s legal costs on an indemnity basis,” the document states.
Price sued Spicers – then known as Paperlinx – in federal court amid claims he was sacked by the paper merchant in February last year after refusing to resign. The paper boss says he was still owed salary, superannuation, expenses and other payouts from months before he was dismissed and was shut out of decision making by the board.
Despite being embroiled in a legal battle with his former employer, Price managed to once again obtain a strong seat in the print industry after assuming his new role at HH Global, where he now serves as CEO of Asia Pacific.
“I am pleased to have now resolved these matters with Spicers and I have moved on with my new role at HH Global, where I am delighted to be a key part of its ongoing success, as CEO of APAC,” says Price.
ProPrint contacted Spicers for its take on the matter, and is waiting to hear back.
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