- 5 -
was terminated, see infra.) This promotion was announced in a
general distribution memorandum.
During petitioner’s tenure at Millipore, the company grew from
approximately $24 million in annual sales (in 1971) to $766 million
(by 1992). Petitioner played a significant role in building the
company.
As of early 1992, petitioner viewed Millipore and its 5,000
worldwide employees like family. Likewise, he was highly regarded
in the company. Petitioner anticipated that eventually he would
become president of Millipore.
Petitioner’s Termination
During an early morning meeting on September 22, 1992, John
Gilmartin, chief executive officer and chairman of the board of
Millipore, informed petitioner that his employment with Millipore
was being terminated effective immediately; Mr. Gilmartin did not
provide petitioner with any reason for this decision.2 Petitioner
was shocked; he became pale and began trembling. Mr. Gilmartin
handed petitioner a letter containing Millipore’s proposed
termination offer. Under the provisions of that letter, petitioner
would continue to receive his salary, benefits, and exercise
certain stock options for a period of 18 months after his departure
2 The procedure Mr. Gilmartin followed in terminating
petitioner was not the procedure Millipore managers had been
instructed to follow. These procedures included giving the
employee notice and an explanation for the termination.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011