Strange goings on at Century Aluminum, where the CEO has departed, but has fired a wrongful dismissal suit against the company.
Logan Kruger, Century’s CEO since December 2005 has resigned according to a press release from the company. He has also filed a lawsuit alleging breach of contract and wrongful dismissal. No details of the reasons for the departure, nor the basis of the lawsuit, have been given in the press release.
According to the company’s press release, the claims were without merit. They would vigorously defend themselves against the claims. CFO Michael Bless has been named acting CEO.
Century has operations in California, Kentucky and Iceland. It has been running at a loss this year, and its share price has fallen 29% YTD, according to Reuters.