Another Wave Of Tenured Staff Leave TransPerfect Because Of Delaware's Court-Appointed Custodian And Co-CEO Elting's Conduct

DOVER, Del., Oct. 31, 2017 /PRNewswire/ -- Employees of TransPerfect watched another wave of company leaders on the technology team resign after reading Co-CEO Elizabeth Elting's negative remarks in a recent article on Slator.com. Elting replied to the mass exodus of Chief Officers and Senior Vice Presidents by disregarding their departures and inaccurately calling them "underperformers."

The most recent resignations of Senior Vice President Xavier Fort and ten-year veteran of TransPerfect, Vice President Matt Hauser caused more alarm across the technology company. Fort was an international member of the technology team and Hauser oversaw all facets of technology sales and marketing. The company has lost their Chief Technology and Chief Information Officers, two Senior Vice Presidents and two Vice Presidents in the last two weeks alone. Like many of the recent resignations, the strife caused by court-appointed Custodian Robert Pincus was also named in Hauser's resignation. "Most of that team, many of whom I consider to be close friends, is gone. Based on my discussions with some of them about why they left, I am surprised they stayed in place as long as they did," said Hauser in his resignation notice. "The lack of respect shown to them by both Liz [Elting] and the Custodian during their employment is shocking to me, especially given what they have all contributed to the overall success of the company."

Many of the resignation letters supported Hauser's sentiment noting discouraging events for employees since Pincus began his reign. The employees have seen their premiums rise and their retirement benefits fall as a result of the costs incurred by the team of consultants forcing the company's sale. Employees also noted their frustration as Pincus took away power from TransPerfect management and gave rule to his consulting team, who oversaw the largest data breach of personal information the company has ever seen.

Hauser's resignation letter also conveyed the unrestrained power given to the Custodian by the Delaware courts. "I also believed that the Custodian would permit the management team of TransPerfect - the people who are working hard every day to pay his ridiculous fees - an opportunity to at least have a seat at the table during the sale process. But my faith that a fair and reasonable process would be applied was delusional. The Custodian's refusal to allow us into the auction is beyond insulting. Competitors were given more respect than the people who built this company and kept it growing while countless millions were spent in the courtroom."

Xavier Fort's resignation letter described the same deliberate disregard from the Custodian as well as Co-CEO Elting. Fort resigned after reading Elting's response in the article and attributed the response to a "personal quarrel and not [for] professional reasons."

Citizens for a Pro-Business Delaware is a group made up of more than 2,200 members including employees of the global translation services company TransPerfect, as well as concerned Delaware residents, business executives and others. They formed in April of 2016 to focus on raising awareness with Delaware residents, elected officials, and other stakeholders about the issue.

For more information on Citizens for a Pro-Business Delaware visit DelawareForBusiness.org.

Contact: Mary Urban, [email protected]

SOURCE Citizens for a Pro-Business Delaware