Even if the delinquent executive is involved in any indiscipline or misconduct or for not meeting the target due to very poor job performance, you cannot terminate him just like that. You need to adhere to and follow the principles of natural justice and conduct a domestic enquiry. Based on the findings of the EO (Enquiry Officer) and their report, management can make a decision either to terminate or retain his services.
You need to communicate to all your major customers that the concerned executive is no longer with the company's services only after terminating his employment.