Dyson settles legal battle with Max Conze
The company, founded by billionaire inventor Sir James Dyson, had brought a High Court claim against the former chief executive.
Engineering giant Dyson has settled a legal battle with former chief executive Max Conze over allegations that he disclosed secret company information and used the firm’s resources to his benefit.
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The company, founded by billionaire inventor Sir James Dyson, had brought a High Court claim against Mr Conze after he stepped down from his position in October.
The Press Association understands Mr Conze has now received a multimillion-pound settlement.
The ex-chief was dismissed by the board of directors for allegedly breaking the company’s confidentiality rules by revealing secret product information to third parties.
His departure is also believed to have been linked to claims that he breached his duties by using company resources and information to evaluate an investment opportunity for the benefit of himself or a venture capital firm.
Mr Conze denied the allegations at the time and said Dyson was trying to distract attention away from claims that he was looking to issue against the company.
In a claim form seen by PA, Dyson was suing the former boss for damages for alleged breach of contract and for compensation and/or an account of profits for his alleged breach of confidence.
A spokesman for Mr Conze said on Thursday: “All claims have been settled.”
Mr Conze worked for the vacuum and hairdryer-maker for six years before being replaced in October by chief operating officer Jim Rowan.
It comes after Dyson revealed in September that it was pushing into the automotive industry by driving £2 billion of investment into developing an electric vehicle.