Former SQM CEO Claims Company Owes US$5.7 Million

Former Sociedad Química y Minera de Chile S.A. (NYSE:SQM) CEO Patricio Contesse has filed a lawsuit against the company, alleging SQM owes him approximately US$5.7 million including severance payments.
As quoted in the press release:

Sociedad Química y Minera de Chile S.A. (SQM or the “Company”) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) announced today that the Company’s former CEO, Mr. Patricio Contesse G., has filed a labor lawsuit against SQM, claiming payment allegedly owed by the Company in relation to the termination of Mr. Contesse’s employment contract. The total amount claimed in the lawsuit is approximately Ch$4,000 million (approximately US$5.7 million), including severance payments for years of service and other payments. SQM has confirmed that the Company has not paid any indemnities to Mr. Contesse and that, with respect to the lawsuit, the Company will take the legal actions it considers necessary, whether as plaintiff or as defendant, in a timely manner.

Click here for the full press release.