THE independent, external investigation into claims made by the former general counsel of Massy Holdings Ltd Angelique Parisot-Potter against the company has found that the "overwhelming majority of the allegations" has "not been made out."
The investigation, which began in January, was done by attorneys Kerwyn Garcia, SC, and Vishma Jaisingh.
Massy published the investigation’s executive summary in a newspaper advertisem*nt on April 14, "in the interest of transparency."
At the company's 2023 annual general meeting (AGM) last December, Parisot-Potter raised an issue with practices of the company’s leadership in a 13-page document, saying it included “bizarre rituals” costing the company thousands of dollars in foreign exchange.
She highlighted a “leadership programme” which involved frequent travel to Fort Myers, Florida. She claimed the rituals involved in the programme included training Massy employees to communicate with the dead and to self-heal with “white light energy.”
The company later denied those claims and she has since resigned.
The summary of the investigation said in 2022, Parisot-Potter was verbally abused by one of the Delphi (leadership) programme presenters, so she felt "justifiably humiliated."
However, it added that the evidence does not establish that the programme, "whether by its contents or by its presenters, poses any danger to the operations of Massy.
"The evidence establishes that Massy executives are free to select, at Massy's expense, executive training programmes of their choice."
It said the Delphi programme has been used by the company since 2009 and some executives found the programme "immensely helpful," while others have not.
"The evidence does not establish a good reason for Massy to interfere with its executives' selection of the Delphi programme."
The summary further said there was no pattern of behaviour where there is "poor governance" and "no due process," including the payment of dividends and consultancies such as McKinsey, Egon Zehnder and Delphi.
It added that Parisot-Potter was not penalised for fulfilling her role as general counsel or for not supporting the Delphi programme.
"Mrs Parisot-Potter was listened to and encouraged to highlight issues.
"The evidence does not establish a conflict of interest between the chairman of Massy and a reputational management consultant engaged by Massy in June 2023."
It said there was not a forced exit or constructive dismissal of Parisot-Potter.
"The evidence establishes that in 2019, Massy decided to re-organise its operations in accordance with the portfolio model. Mrs Parisot-Potter resisted Massy's attempts to apply that model to Massy's legal department. Irreconcilable differences arose between them. Mrs. Parisot-Potter and Massy with respect to the application of the portfolio. model to Massy's legal department. Those differences were a major factor in the deterioration of the employment relationship between Massy and Mrs Parisot-Potter."
After these "differences," the summary said, Parisot-Potter voluntarily began negotiations for a separation package.
"During the negotiations and mediation, Mrs Parisot-Potter proposed that a separation package be paid to her in the sum of £11.8 million (TT$93,541,679) as well as a seat on the Massy board."
It said her proposal was submitted for consideration, but "the negotiations broke down on November 30, 2023. Mrs Parisot-Potter made public her allegations thereafter."
The company said while it was awaiting the investigation's findings, there was a "full review of our policies, processes and systems of governance to ensure that we are benchmarked and aligned with global best practice.
"This review is currently ongoing and will include a thorough examination of how we provide incentives throughout the organisation to ensure all are rewarded for their contribution to our performance.
"We are a robust, resilient organisation, and we value every challenge and opportunity to strengthen and improve who we are and how we do business."
On Saturday afternoon, Parisot-Potter posted on Facebook that she still had not seen the 2,456-page report investigating her claims.
"For 13 weeks, I've exposed the realities of corporate misconduct – the silencing of dissent, the presence of cronyism, groupthink, and unchecked power which is abused. This isn't hypothetical – it was my reality until principle demanded I resign.
"I raised serious concerns about ethics and governance. My reward? Threats, marginalisation, and attacks."
She said in the corporate world, boards prioritise self-interest, endangering investments and harming stakeholders.
"We can't rely on management's integrity alone. Corporate failures show us the cost of misplaced trust. But there's another way. Shareholders can demand accountability. Employees, through unions, can gain a voice in decisions that affect their well-being. Shareholders and employees can collaborate for more transparent governance."
She urged others to hold management accountable at AGMs.
"I resigned on principle. But this isn't the end. It's time for a system where: Shareholders have true power to shape leadership; employees are kept safe and have a voice that is protected; whistleblowers are protected and concerns are thoroughly investigated; unethical leaders face real consequences
"See you at the 101st (Massy) AGM where I hope to be applauding positive change including in the leadership, the board and the governance of this organisation."
