The knives are falling deep at Investissement Québec. Fired for “serious reasons” in 2023, a former right-hand man of the big boss is suing the company'Condition for $2,730,846.
Jocelyn Beauchesne had just been promoted to first vice president of the regional network when he was fired “abhorrently” and “against all expectations” on November 29th. He earned $674,303 per year.
When terminating his contract, his employer cited “alleged deficiencies in the performance of his duties,” argues the 56-year-old businessman in his lawsuit filed with the Montreal court on Monday.
On the same day, he was ousted from the IQ offices and stripped of “all benefits and systems” from which he “had previously benefited.”
Mr Beauchesne finds his former employer's actions “insulting, negligent, hasty, closed-minded, blind, stubborn and unregulated”.
The person who has just reached the “very first echelons of senior management” is asking Investissement Québec for $1,605,846, which includes 24 months of salary.
The ex-vice president is also seeking $150,000 for “the gross and grossly abusive manner” in which he was fired. He also wants to receive $975,000 for defamation of character.
Total Races: $2,730,846. Jocelyn Beauchesne was hired as vice-president of regional network at IQ in 2017 and has 30 years of experience in financing businesses in Quebec.
But what did Jocelyn Beauchesne do?
His lawsuit is “unfounded,” Investissement Québec told La Presse on Thursday. Quebec's finance department is keeping its version of the facts for the judge and is not commenting further.
The Journal reported his firing on Nov. 30. IQ said its employee “violated a governance rule.”
“Management felt he could no longer maintain his position. However, he did not take advantage of himself, behave inappropriately or harass anyone else, and there were no consequences for customers. No severance payment was paid. We are not providing any further information on the situation,” said the state-owned company.
Since 1990, Jocelyn Beauchesne has worked for the Fédération des caisses Desjardins du Québec, the Royal Bank of Canada, the Laurentian Bank and the Canadian Imperial Bank of Commerce and Investment Quebec.
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