Zenit, S.A.

Zenit is a second generation family business which, with a turnover of €120 million, is the leader in its product niche in Europe. In 1997, the company hired an engineer (an MBA with work experience in an important multinational in the sector) as its managing director. At the second level of the company hierarchy, composed of several engineers, there are also two members of the family who owns the company, whose career has been designed and followed directly by the two independent members of the board. In October 2001, the president and owner of Zenit has a meeting with the managing director, and tells him that he has lost the family's confidence, and that he is being removed from his position with the company.