Abraaj Capital, the principal investor in the supermarket retailer Spinneys, decided to let go of Michael Wright, who had served as the company’s CEO in Lebanon and the Middle East. Information indicates that the months-long discussions amongst the board of directors determined that keeping Wright as CEO was harming the company’s interests and reputation.
Sources informed Al-Akhbar that the decision was intended to appear as though it were Wright’s personal choice to retire early. Regardless of outside appearances, the decision to sack Wright is a victory for Spinneys workers who refused to submit to his “hot-tempered” style.
Regardless of outside appearances, the decision to sack Wright is a victory for Spinneys workers who refused to submit to his “hot-tempered” style.Workers insisted on exposing Wright’s widespread violations of their basic rights, as well as Spinneys practices that were illegal under Lebanese law. Wright casually used his relationships with some politicians to achieve his personal objectives, all at the expense of the 1,500 Spinneys workers in Lebanon.
Bye-Bye, Mr. Wright: Spinneys Sacks its CEO | Al Akhbar English
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