Such was Hitachi’s self-assurance in Ivan that it still left him and his administration group totally accountable for jogging FusioTech Holdings, the new company set up put up its acquisition.

The management workforce and also the CEO owe a fiduciary duty towards the Board and can't withhold any information and facts asked for because of the Board,” he explained.

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Hitachi courtroom petition to wind up Fusionex, expose grim picture of alleged unethical and irresponsible conduct by Ivan Teh and his senior Management

Additionally, all information and facts relating to the continuity of your Fusionex operations and business enterprise wasn't shared right before or handed in excess of throughout their departure,” said the paperwork.

It absolutely was not simply the motion to end up, but the information that Ivan and several of his leadership staff Stop their Careers abruptly without the need of serving because of recognize and didn't execute their Skilled and fiduciary obligations with a suitable handover of obtain and documents.

Using this type of strategic move, Hitachi gained digital ready assets which include info experts and aggressive AI and knowledge go to this site analytics programs which have been adopted by many purchasers, SaaS platform which offers billing and authentication functions, and company know-how which enables to obtain and keep consumers.

There's marketplace chat that Ivan has an interest in the company Despite the fact that his identify isn't going to look like a shareholder or director and a person acquainted with V-Circle tells DNA that Ivan has no interest in the company.

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Since it was shown on Purpose, and excluding the worldwide enterprise tech gamers, Fusionex has grown into one of many larger sized huge facts solutions vendors in Asia. Its clientele has also enhanced greatly.

ADA is undoubtedly an integrated digital marketing and advertising small business combining facts science, engineering, and inventive articles to disrupt advertising and marketing for manufacturers and firms across Asia.

It really is believed that other ex-Fusionex executives have also been reaching out to important federal government and personal sector purchasers likewise, assuring them of aid though It's not distinct by which enterprise.

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This started out a series of back and forth between Ivan and Hitachi, outlined in its petition, in which Hitachi wanted to exercise its lawful rights as house owners of Fusionex and with Ivan and his Management workforce offering a variety of causes to obstruct this, chief of which was a purported ‘authorities directive’ that prevented Ivan from sharing delicate knowledge with international parties.