Immunotec launched in 1996 and market nutritional supplements, based on glutathione research conducted by Gustavo Bonous in the 1980s.
In 2007 Immunotec went public (IMM:CN), with shares in the company currently trading at 28 cents Canadian.
Immunotec is a Canadian company based out of Quebec, and is headed up by CEO Charles L. Orr (right).
In his Immunotec corporate bio, Orr is credited with having been an Immunotec “director” since 2006 and the CEO of Shaklee (health and wellness) from 1993 to 2000.
Mr. Orr is a seasoned professional with 23 years of experience in the direct selling field. Additionally, his work history includes extensive leadership responsibility in the financial services and computer industries.
Charles Orr signed on as Immunotec CEO in May 2013, replacing Robert Henry, who “departed” four days earlier on May 13th.
A later “corporate update” from Immunotec in June reveals Henry did not depart from the position but was infact “terminated” on May 10th.
The Board asked for the resignation of Mr. Henry as a director of the Corporation and its subsidiaries.
As Mr. Henry declined to resign, the Board also approved the calling of a special meeting of the shareholders of Immunotec for the purpose of removing Mr. Henry from its Board.
Immunotec did settle with Henry for $500,000 after he was terminated:
Immunotec Inc. and Mr. Robert Henry, its former Chairman and Chief Executive Officer, are pleased to announce that they have amicably concluded a final settlement to their mutual satisfaction with respect to the claims regarding Mr. Henry’s past involvement with the Company, for a total amount payable to Mr. Henry of USD$522,000.
What the story there is I have no idea, but it’d certainly be interesting to know why Henry refused the Immunotec Board’s request he resign, and why they then terminated him.
Whether we’ll ever find out unfortunately seems doubtful, with the above agreement notice ending in flowers and sunshine:
The Company thanks Mr. Henry for his contribution to the Company. Mr. Henry also expresses his appreciation to the Company’s founders, the management team and the Company’s employees, distributors and customers.
In anycase, read on for a full review of the Immunotec MLM business opportunity. [Read the rest of this entry...]