Dispute is settled for an undisclosed sum after John Bennett sought damages of around £900,000
The dispute was settled for an undisclosed sum. It is understood Bennett was seeking damages in the region of £900,000.
The dispute arose after Persimmon bought Westbury last year and culled its management including Bennett, who had been on the Westbury board since 1992.
As part of the takeover deal, Bennett agreed to work for Persimmon for six months. Following the termination of his contract, he claimed the two companies had breached the contract for money payable to him.
The settlement comes as the FTSE100 housebuilder posted a 16% rise in pre-tax profit to £271.5m for the first six months while revenues soared 42% to £1.5bn.