Stewarts employment partner Richard Nicolle was quoted in an article in the Times on 13 April about whether Barclays would have grounds for dismissing CEO Jes Staley.
‘Richard Nicolle, employment partner at Stewarts who reviewed extracts of the contract, said:
“If the bank were minded to dismiss Mr Staley, there are a number of potential grounds upon which they could do so.”‘
The article goes on to say:
‘However, Mr Nicolle said it was likely that the bank would prefer to reach a settlement if it fired Mr Staley, 60.
‘”It would almost certainly be the case that the dismissal would be pursuant to a settlement agreement with confidentiality provisions, rather than dismissal for gross misconduct with forfeiture of bonus, options and claw back.”‘
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