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joannem1965, Advocate
Category: UK Employment Law
Satisfied Customers: 264
Experience:  LLB (Hons), LPC
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I was appointed managing director and have acted as such for

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I was appointed managing director and have acted as such for three years although at companies house I am not a recognised director. I have LTIP share options which provides me a percentage of the sale proceeds of the company. The owner of the company is seeking to demote me to a general director and remove my share options. He will act as MD. can he do this? There has no notice or warnings

What your employer is proposing to do is a unilateral variation of your contract and you have the option to:

accept the change and leave it at that;

accept the changes under protest and raise a grievance;

refuse to accept the change in which case they would need to terminate your contract and issue you with a new one. You may or may not accept the new contract, if you do not accept, you may bring consider whether or not to bring a constructive dismissal claim.

Hope this helps

Customer: replied 3 years ago.
Can I accept part of it, ie the demotion but reject the LTIP change?
Hi there yes you're able to do that but you'll need to make it clear exactly what you're happy to accept and what you're not going to accept. You could even use the fact you're willing to accept part of the changes as a negotiations tool when arguing that you're not going to accept the LTIP changes
joannem1965, Advocate
Satisfied Customers: 264
Experience: LLB (Hons), LPC
joannem1965 and other UK Employment Law Specialists are ready to help you

Did you accept my colleague's answer by mistake? I was the original expert dealing with your question.

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