Moët Hennessy Wins Paris Lawsuit Against Ex-CFO Over NDA Breach

Moët Hennessy won a lawsuit against its former finance chief after LVMH’s drinks unit accused him of violating a non-disclosure agreement that he signed last year as part of his settlement when he was dismissed.

The Paris employment tribunal ordered Mark Stead to pay Moët Hennessy €100,000 ($116,000) on Wednesday for failing to respect the NDA, a court official said by phone. He was also ordered to pay €1,500 to cover Moët Hennessy’s legal fees. The judges’ full reasons for their decision won’t be available for several weeks.

The tribunal also threw out an unfair dismissal counter-claim brought by Stead that was seeking €4 million as well as a bid to scrap the settlement agreement. He argued that the NDA prevented him from blowing the whistle on sexual harassment allegations.

Fired CFO in €4 Million Fight With Moët Hennessy Over NDA

Stead, the former chief financial officer of the drinks unit of LVMH Moët Hennessy Louis Vuitton SE signed this NDA in July 2024 as part of a settlement agreed with the division following his dismissal for alleged expense abuses. The deal gave him severance but bound him to strict confidentiality and non-disparagement clauses.

The company argued at a hearing earlier this year Stead fed information to news outlet La Lettre as part of a report about how Moët Hennessy handled the separate complaint filed by his partner, who was also a colleague and former senior manager.

Eric Charlery, a lawyer for Stead, declined to comment. A representative for Moët Hennessy also declined to comment.

Top photo: Moët & Chandon Champagne and Hennessy on display Photographer: Zoltan LeClerc/Getty Images.