Succession is facing claims from two shareholders over unfair dismissal
The first case is being brought by Lynne Rowland, who previously headed up the integration of new firms into Succession. It is being heard at Watford Employment Tribunal on 10 October over a three-day period.
Rowland is claiming for unfair dismissal after she was made redundant on 2 July 2015.
Her husband Mike Beckwith, former founder of Westminster Financial Planning, is bringing a separate case against Succession in relation to unfair dismissal.
Beckwith’s claim is expected to be heard at Bristol Employment Tribunal in December.
Rowland and Beckwith were issued with shares in Succession following the sale of Westminster Financial Planning in 2012.
It is understood they are looking to bring further claims in connection with their shares in the business.
Both Rowland and Beckwith declined to comment.
A Succession spokeswoman says: “We have around 300 employees, with plans to double in size over the next 12 months. We don’t comment on HR matters relating to individual staff members.”
Is this how Succession makes acquisitions? With shares? Are the vendors that daft? If you sell something – you sell it for hard cash – up front and not on the HP.
Anyway what are they doing working for the firm that acquired them? Don’t they know the first rule? Never work for the firm that buys you – no one ever runs the firm as well as you did and joining the successor invariably leads to the grief and upset of the vendor.
If this is indeed the consideration they received for their business one may only conclude that they were (at best) gullible and that Succession are sharks.