Monday, August 13, 2007

QUIXTAR: IBOAI Board Suspends Five Directors

Original Source

August 13, 2007

IBOAI Board Suspends Five Directors

On August 9, 2007, Quixtar terminated the businesses of 15 IBOs for breach of contract and other related claims. Subsequently, five members of IBOAI’s Board of Directors, all of whom had also had their businesses terminated by Quixtar, were suspended by the Board pursuant to the IBOAI Board By-Laws. Another IBO, a former director, was removed from his position on two Board committees. This still leaves a strong and experienced group of directors to carry on the mission of the Association, with others to be elected to vacant positions by the end of the year.

The Board of Directors of the Independent Business Owners Association International retains its firm belief in the founding ethical and moral business principles which created the opportunity still available to all Independent Businesses powered by Quixtar. It supports the rules and regulations which it has helped to shape since 1959, in partnership with Quixtar.

At the same time, while any partnership will experience differences periodically, the Board remains unanimously committed to working with Quixtar’s leadership towards our common goal – business and personal success for each IBO.

Sometimes a tree needs to be pruned to become healthier. This is what the Board believes has happened recently. As a result, the future is brighter for all active IBOs.

Posted at 08:10 PM in IBOAI Board Actions | Permalink

1 comment:

Ed Manley said...
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