KOSICH SUES EATON'S OVER DISMISSAL
By Adnews Staff
Former Eaton's president and CEO George Kosich is suing the national retailer for $8 million in a wrongful dismissal suit. Kosich joined Eaton's in June 1997, shortly after the chain went into bankruptcy protection. Prior to this post, he was president of The Bay. Kosich claims in his lawsuit that he was fired on Sept. 30, but the termination was delayed until after Oct. 31, which then reduced the amount payable to him by $1 million. He also says that the board of directors began interfering with his job and were negative about proposed changes he wanted to implement. Eaton's says it intends to defend itself, but hasn't filed a statement of defense yet. This isn't the first time Kosich has been involved in a lawsuit. In September 1997, The Bay launched a $22 million lawsuit alleging Eaton's had hired away Bay executives to get confidential marketing information and that Kosich had breached fiduciary duties he owed to The Bay by joining a competitor while still drawing salary and benefits from The Bay. The suit was settled out of court.