- Report: #1420837
Complaint Review: Vistage Worldwide - San Diego California
Reported By:
8-year Vistage Member -
Sarasota, Florida, United States
Submitted:
Updated:
-
Author Not Confirmed
Why?
Vistage Worldwide
11452 El Camino Real Suite 400 San Diego, 92130 California, United States
Phone:
8585236800
Web:
www.vistage.com
Categories:
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Vistage Worldwide Vistage, TEC, The Executive Group Vistagage Worldwide Vistage Chair Allegedly Steals Member Business - Lawsuit Filed San Diego California
Vistage is an organization that claims to help CEOs become better leaders and grow their businesses. The Vistage Business Model centers around 1) a monthly full day confidential peer group meeting; and 2) a monthly 2-hour individual coaching session where members can share confidential information with their Vistage Chair and Vistage Group members and get advice on business strategy, financials, etc.
Vistage Group sessions and Coaching sessions are led by a Vistage Chair, which Vistage describes as follows:
“A Vistage Chair is an executive mentor who guides top business leaders through their toughest turning points, so they can make great decisions that benefit their lives, companies and communities. Our Chairs are accomplished business leaders and mentors, hand-picked from a cross-section of industries. At the peak of achievement in their own careers, each realized how much they could contribute as a mentor. The guidance of a Vistage Chair creates a ripple effect felt from C-suite through company ranks, and into your community.” – from the Vistage web site.
My Vistage Chair used the confidential information I shared about business (financials, business strategy, etc.) to form a competing business. He tried to hide this by forming the business under the name of his daughter since she is married and goes by her married last name. He then poached my General Manager (who I was paying Vistage to coach into a better leader).
I immediately informed Vistage and was told that Vistage Chairs are Independent Contractors and that Vistage takes no responsibility for the actions of Vistage Chairs. The Vistage Chair was not even fired until Group Members began to quit and I had hired a lawyer to commence litigation.
We later found out that Vistage’s “hand-picked accomplished business leader” was basically broke and had nowhere near the assets to satisfy any potential judgement (my damages were appraised at around $6mm).
We sued Vistage (a copy of the complaint is can be found at www.memberlawsuit.com. The Lawsuit is currently pending.
A WARNING TO CURRENT AND PROSPECTIVE VISTAGE MEMBERS:
Those joining Vistage should know that Vistage takes the position that their Vistage Chairs are Independent Contractors.
As such, Vistage believes that it is not responsible for the actions of its Vistage Chair, including incidents where a Vistage Chair uses confidential information shared in the peer group meetings and coaching sessions for their personal benefit and your detriment.
Therefore, anyone that is currently in Vistage or looking to join Vistage should make their own independent investigation to understand the qualifications and financial strength of their Vistage Chairs.
1 Updates & Rebuttals
Eran
Sarasota,Florida,
United States
Update from the Original Author
#2Author of original report
Thu, February 21, 2019
I am the original author of this report. I thought it was important for me to post a follow up and advise that, subsequent to my filing this report, I had the opportunity to discuss the situation with Vistage and we came to a resolution both sides are comfortable with. I appreciated Vistage’s integrity in addressing this situation.
I would also like to note that I was a member of Vistage for over eight years and found the experience to be tremendously beneficial to me and my businesses. The resources I was given access to as a Vistage member and the relationships I formed with other talented businesspeople were invaluable and helped me to be a better business leader. Vistage is unquestionably the most powerful resource available for leaders of small and medium businesses. I wholeheartedly recommend Vistage to all SMB leaders.
