15:44:53 EST Fri 22 Nov 2019
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Naturally Splendid Enterprises Ltd
Symbol NSP
Shares Issued 141,438,513
Close 2019-10-16 C$ 0.08
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Naturally Splendid sued over Mason's dismissal

2019-10-17 10:52 ET - Street Wire

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by Mike Caswell

Naturally Splendid Enterprises Ltd. is facing a lawsuit in the Supreme Court of British Columbia from its former chief executive officer, Douglas Mason, for breach of contract. He claims that Naturally Splendid constructively fired him on Aug. 16, 2019, and has failed to pay his termination fee. He is seeking the court-ordered payment of the money.

Mr. Mason's lawsuit comes just two months after what appeared to be a simple departure. In a news release issued on Aug. 27, 2019, the company said that he had resigned as CEO and as a director. His replacement was Craig Goodwin, the company's co-founder and previous CEO.

It now appears, from Mr. Mason's lawsuit at least, that there was more to his departure than the news release set out. In a notice of claim filed on Tuesday, Oct. 15, Mr. Mason briefly explains how his tenure as CEO came to an unexpected end. He says that Naturally Splendid had determined to demote him from his job as CEO at some point. He does not say who made this determination or why, but he does say that he had performed his job "in accordance with [the] customary duties" of a CEO. In other words, there was no good reason to fire him.

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