Sino Swearingen Fires CEO Chen, Who Sues
Sino Swearingen, which is preparing to start deliveries this year of the SJ30-2 light jet, last week fired its president, Carl Chen, who immediately sued the company for breach of contract and damages from alleged slander “with malice” by current chairman and CEO Ching-Chiang Kuo. Chen, who was named Sino Swearingen president and CEO in 2002, is also seeking $300,000 in what he said was a promised bonus for leading the company to achieving FAA certification three years later. The lawsuit claims that Kuo last year used his ties with Taiwan’s president to take over first as chairman of the company and later as CEO, before placing Chen on a “leave of absence” on January 13. Officials from Sino Swearingen did not return phone calls seeking comment. The SJ30-2 received FAA type certification in October after 20 years in development, but it was not without limitations. Remaining approvals include certification for flight into known icing and operation of cabin interior systems.