Monster sacks general counsel

Lawyer takes long walk

By John Oates • Get more from this author

Posted in Financial News, 23rd November 2006 15:10 GMT

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Online recruitment company monster.com will be scouring its own database of CVs looking for a replacement for the company's chief lawyer.

Monster suspended Myron Olesnyckyj, its general counsel and secretary back in September. He has now been sacked.

The company has been investigating the allocation of share options. The Securities and Exchange Commission is investigating dozens of technology companies over allegations that they illegally backdated share options.

Last month the company founder and chief executive Andrew McKelvey refused to be interviewed by the committee set up to investigate the share option scandal. He resigned from the board rather than face the investigating committee.

A statement on Monster.com says: "The company's Board of Directors has terminated Myron Olesnyckyj, the company's former senior vice president, General Counsel and Secretary, for cause. Mr Olesnyckyj was suspended from his position on September 19, 2006.

The board's action was taken with the concurrence of the Special Committee of independent directors reviewing the Company's historical stock option grant practices."

Ouch. Read the whole statement here.®

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