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BetonSports clarifies that hard partying activities took place before the group was listed on London Exchange
Still apparently locked into reassuring investors rather than communicating with customers, the BetonSports statements announcing the departure of jailed CEO David Carruthers were further clarified today (Tuesday)
The Board told Reuters: "On July 24, the contract under which David Carruthers acted as CEO of the company was terminated ... This action was taken as a consequence of Mr Carruthers's continued detention by US authorities.
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"Clearly, while he remains in the custody of the US government he is unable to perform his duties. Further, the company has been unable to speak directly with Mr Carruthers."
Mr Carruthers and 10 others, including the founder of BetonSports, Gary Kaplan, were named in a 22-count indictment this week by federal prosecutors.
In a separate statement, BetonSports sought to distance itself from others named in the indictment. The company said none of its other directors - appointed after the company's flotation in 1994 - were named in the charges.
"The board wish to make absolutely clear that none of the founders of the original business has any continuing role within the company," it said, adding that Gary Kaplan had a "consulting agreement with the company under which his role is non-management related, which was an absolute requirement of the board for the float and thereafter".
BetonSports said it had operated in accordance with the "standards expected of a UK plc" since its listing.
In an apparent reference to allegations of hard partying which appeared in the English tabloid Mail on Sunday, the statement added: "Some media reports have focused on alleged improper activity occurring at the group's Costa Rican business premises during VIP parties and other events. All these allegations relate to the time prior to the acquisition of the business by the company and its July 2004 float."
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