Quintis said one of its subsidiaries,Santalis,entered into an agreement with the Nestle company to terminate the contract on December 16.
"It is unacceptable that the current board was not made aware of the contract termination when it took place. We are taking immediate and appropriate measures to ensure that this type of communications breakdown is not repeated,"said chairmanDalton Gooding.
From what CBD has managed to gather,this should have been communicated up the management chain from Santalis'boss to Quintis boss,Frank Wilson – who has now left to launch a takeover bid for Quintis.