Full Breakdown
Jeremy Croxford Ordered to Repay Over $59,000 in Bonuses and Leave
3/21/2026, 5:24:57 PM
Overview of the Case
Jeremy Croxford, the former general manager of Waterware, has been ordered to repay a total of $59,052 to his employer, Waterware Solutions Limited (WSL), following a decision by the Employment Relations Authority (ERA). This ruling stems from discrepancies in bonus calculations and unauthorized leave payments during his tenure at the company.
Background of the Employment
Croxford worked at WSL for 25 years, becoming general manager in 2012. His responsibilities included financial management, payroll, and compliance with tax obligations. From 2012 until April 2020, Croxford's bonuses were calculated based on profit figures at various points during the quarter. However, in 2020, the directors decided that bonuses would instead be based on the profit figures at the end of each quarter.
Misrepresentation of Profit Figures
In June 2024, consultant Annette Holzmann was brought in to address cash flow issues at WSL. She discovered that Croxford's calculations for net profit had overstated the figures used to determine bonus payments. The ERA found that Croxford's calculations did not account for certain expenses that would have reduced the profit figures. Consequently, WSL had overpaid Croxford and the directors a total of $232,655 in bonuses, which should have been $185,392.
Financial Obligations and Misconduct
The ERA's decision mandated Croxford to repay $33,436 for overpaid bonuses. Additionally, he was found to have received annual leave payments for 20 days that he was not entitled to, as he had canceled his leave requests. Croxford also incurred $2,000 in expenses on a company credit card for items that were not pre-approved by WSL.
Croxford claimed he was constructively dismissed due to WSL's actions, which he argued coerced him into resigning. However, the authority ruled that WSL had acted justifiably in investigating serious allegations against him, including misuse of company funds and failure to comply with financial obligations.
Official Statements & Responses
Darren Yearsley, WSL's technical director, acknowledged the familial ties involved in the case and described it as a challenging situation for all parties. He emphasized that the company's focus is now on moving forward and supporting their staff, customers, and suppliers.
Verbatim Quotes
- “The mistake arose because they relied on financial information they received from Mr Croxford which misrepresented the correct profit figures for each quarter.” — Simon Greening, Authority Member
- “it has been a difficult matter for everyone concerned” — Darren Yearsley, WSL Technical Director
Conclusion
The ERA's ruling highlights the importance of accurate financial reporting and accountability within organizations. Croxford's case serves as a reminder of the potential consequences of mismanagement in financial calculations and the obligations of employees to adhere to company policies.
