Moët Hennessy's Former CFO Mark Stead Faces Legal Battle Over Confidentiality Breach Allegations
Mark Stead, the former finance chief of Moët Hennessy, has found himself entangled in a legal battle with his former employer. Stead alleges that he received information from the Financial Times regarding accusations of a breach of confidentiality by Moët Hennessy, leading him to write an article. Meanwhile, Moët Hennessy accuses Stead of violating a non-disclosure agreement by leaking secrets for an article about his partner's sexual harassment claim.
Stead's lawyer, Eric Charlery, denies the allegations and claims that the lawsuit against Stead is a means to punish him for supporting Maria Gasparovic, who had previously accused the company of sexual harassment. Stead signed a non-disclosure agreement in July 2024 as part of a settlement after being dismissed for alleged expense abuses. The settlement provided severance but bound him to strict confidentiality and non-disparagement clauses.
Stead is now seeking to scrap the settlement, claiming it prevents him from blowing the whistle on the harassment suffered by his partner. His lawyer argues that Moët Hennessy's public accusations have wrecked Stead's reputation and breached the deal's non-disparagement clause. Moët Hennessy, however, maintains that Stead broke the settlement and has filed a defamation complaint against Gasparovic. The company alleges that Stead provided information to news outlet La Lettre for an article about how the company handled Gasparovic's complaint.
The dispute between Stead and Moët Hennessy comes at a time when the company is facing a string of lawsuits while undergoing a management shake-up and staff cuts. Stead is also pursuing unfair-dismissal and damages claims, potentially pushing his overall demand beyond €4 million ($4.7 million). Both parties remain steadfast in their positions, with Stead seeking to expose what he believes is wrongdoing and Moët Hennessy defending its actions and the terms of the settlement.
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