Something strange is going on between WorldVentures and Seacret Direct.
Since filing for Chapter 11 bankruptcy, Seacret Direct has poached three high-level executives from WorldVentures.
Now, in a communication sent out to distributors, WorldVentures has confirmed ” there is no plan for a merger with Seacret”.
What is going on?
The original announcement law November saw WorldVentures confirm full integration into Seacret Direct through a merger.
Up until today, the status of the merger had been up in the air.
After promising distributors he’d found a “stable resilient and reliable business solution” for them, WorldVentures’ President Eddie Head jumped ship for Seacret Direct.
At the same time Senior Vice President of Global Sales, Justin Call, also resigned. He’s now turned up as Seacret Direct’s new Senior Vice President of Global Sales & Field Development.
Although news of his departure was only recent, turns out Marc Accetta, WorldVentures’ former Director of Training, has been poached too.
Accetta, another prominent executive who reassured WorldVentures distributors throughout November and December, holds the same Director of Training position at Seacret. Accetta had been with WorldVentures since 2006.
On top of this we already know Seacret Direct is openly recruiting WorldVentures distributors.
I find it hard to believe there were no non-compete clauses in either Eddie Heads’, Justin Call or Marc Accetta’s WorldVentures contracts.
And if there’s no merger, why are WorldVentures executives all turning up at Seacret Direct?
Smells like shenanigans to me.
Courtesy of a BehindMLM reader, here’s the full “no merger” statement from WorldVentures;
Thank you for being part of the WorldVentures family. There have been positive developments for our company that may allow us to restructure and rebuild the brand.
As of January 21, we have identified a bidder/investor for the WorldVentures and Rovia assets and filed a motion with the Court for approval.
As of today, there is no plan for a merger with Seacret and WorldVentures, your back office remains the same and all future sales commissions will be paid in full on normal commission cycles.
Efforts are already underway to identify and hire two great sales leaders, one for our International business and one for North America.
We encourage you to stay the course and do what you do best – provide unique and memorable travel experiences.
As we move through this process together, we look forward to resuming our training events and rebuilding a great company with you. More details to come.
If that is to be believed, WorldVentures is going to replace its lost executives and carry on like nothing’s happened.
What?
I’d be tempted to the merger breakdown was the result of co-owners Dan Stammen and Wayne Nugent not getting their way.
But then both seem awfully complacent while Seacret Direct guts their business. And they’re not even being secretive about it.
Seacret’s new appointments are being openly celebrated.
Can’t help but wonder what WorldVentures’ non executive creditors think of all this? I know if I was in that legal position I’d certainly want answers.
Pending any more bizarre “WorldVentures executive poaching but we’re totally not merging” updates, stay tuned…