Interface Issues Statement in Response to Lawsuit by Terminated CEO
Feb 17, 2020, 14:48 ET
ATLANTA, Feb. 17, 2020 /PRNewswire/ -- Interface, Inc. (Nasdaq: TILE), a worldwide commercial flooring company and global leader in sustainability, today commented on the lawsuit filed by former CEO Jay Gould. As announced on January 20, 2020, Mr. Gould was terminated for cause after an investigation concluded that he engaged in personal behavior that violated Company policy and core values.
The Company issued the following statement:
The lawsuit filed by Jay Gould – in which he makes salacious allegations against the company and its leadership – is replete with lies and mischaracterization. His claims are fiction -- they are made up, false and baseless.
In an attempt to justify his inappropriate behavior, Mr. Gould's lawsuit alleges that the company's recent decision to terminate him was wrongful and retaliatory, and that the investigation of him was "pretextual." In truth, a written whistleblower complaint was filed on January 15, 2020 alleging that during a company event the prior evening Mr. Gould was inebriated, confrontational, and verbally abusive directly to a female executive in front of other witnesses. Additionally, that same day, the company received separate complaints from other executives regarding Mr. Gould's intoxication and inappropriate comments from the night before.
In response to the allegations, the Independent Directors of Interface engaged a reputable law firm to conduct an objective and thorough investigation. The investigation overwhelmingly corroborated the allegations against Mr. Gould. The Board voted to terminate his employment contract because his actions violated the Company's policy and core values. Mr. Gould's behavior compromised the trust and respect that we strive to foster throughout our organization.
Interface cares deeply about its people, culture, and values. The company and Board will continue to uphold those values. Mr. Gould's lawsuit is frivolous, and the Company will defend itself vigorously.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. Forward-looking statements in this press release include, without limitation, any predictions about the outcome of any litigation in which Interface is involved. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, such as the risks common in all litigation, including that, because of the inherent uncertainty of litigation, the outcome may be unfavorable even if Interface's defenses are meritorious, or that material legal fees and expenses may be incurred even if Interface is ultimately successful in its defense. Additional risks and uncertainties that may cause actual results to differ materially from those predicted in forward-looking statements also include, but are not limited to the risk factor included in Part II, Item 1A of the Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, and the risks under the headings in "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 30, 2018.
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.
About Interface
Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. We help our customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. Our mission, Climate Take Back™, invites you to join us as we commit to operating in a way that is restorative to the planet and creates a climate fit for life.
Learn more about Interface at interface.com and blog.interface.com, our nora brand at nora.com, our FLOR® brand at FLOR.com, and our Carbon Neutral Floors™ program at interface.com/carbonneutral.
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