Editor’s note: This story has been updated several times since it was originally posted. The story below was written after the B&R’s most recent print edition had gone to press.
By David Roach
NASHVILLE — LifeWay Christian Resources and Thom Rainer have agreed to settlement terms in a breach of contract lawsuit between the SBC entity and its former CEO.
The statement indicates the agreement was reached Monday (Oct. 5), a day after Rainer had tweeted his intent to accept LifeWay’s terms to end the lawsuit. According to a statement jointly released Tuesday (Oct. 6), Rainer agreed to honor the terms of his separation agreement, including a noncompete clause. He also agreed “not to move forward with his business partnership with Tyndale House Publishers, which was a violation of his noncompete agreement.”
“Our prayer has always been that this could be resolved between LifeWay and Dr. Rainer amicably,” Todd Fannin, chair of LifeWay’s board of trustees, said in the statement. “We’re thankful Dr. Rainer agreed to honor his word and commitment to LifeWay, which has been our goal from the beginning. The trustees and Dr. Rainer are looking forward to putting this behind us.”
In a statement provided Tuesday to Baptist Press, Rainer said: “I am grateful to have this resolution between LifeWay and me. I look forward to once again focusing on serving local churches and those who serve them.” [Read more…]