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robocat a day ago

Thank you for correcting me. I'm in an armchair but I did find this good article on the topic:

https://ilyastrebulaev.substack.com/p/who-controls-your-star...

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FreakLegion 21 hours ago | parent [-]

The board can sack the CEO, usually with a simple majority vote. That's just how boards work.

What's not normal is any kind of special investor right to sack the CEO unilaterally.

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moralestapia 20 hours ago | parent [-]

You're all arguing as if TFA was about the board overpowering the CEO, whereas if you read (even) the title, the reality is that they couldn't do anything, zilch.

	▲	FreakLegion 19 hours ago \| parent [-]
		We're talking about the question that spawned this thread: > what is even the purpose of a board in a multi-class share structure with the founder holding above 50% voting shares. This is a question about governance in general. The details of what happened at Automattic are irrelevant.