Adidas ex - Franchise Mart

Adidas ex

Adidas ex

The battle between German sportswear giant Adidas AG and its former managing director in India Subhinder Singh Prem escalated on Thursday after he sent a legal notice to the company and its CEO Herbert Hainer. Prem challenged the legality of the appointment of the new India head and his own termination.

Prem was given a termination notice by email on April 29, a day after he sent his resignation. In the notice sent by his legal representatives, Prem has challenged his "purported termination" and the appointment of Claus Dieter Heckerott as the new managing director… He has demanded the immediate clearance of all his contractual dues along with adequate damages to compensate for the illegal termination and the consequential loss suffered by him, to the tune of Rs 12.7 crore. This is over and above a defamation notice he has filed against Adidas, seeking Rs 15 crore in damages.

Print Friendly, PDF & Email

Tags: , ,

Comments are closed.