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Board can't make that decision if the CEO has majority voting rights.
by kooshball 10y ago
Board can't make that decision if the CEO has majority voting rights.
- nerfhammer 10y agoHonest question: what's the point of having a board then?
- CPLX 10y agoTo represent the owners of the company. The founder is over half the owner of the company. So the system is working as intended. In all fairness, though generally lawsuits represent a failure on some level, this kind of situation is kind of why we have courts. That's a proper venue to determine what to do next in this unusual and extraordinary situation.
- exhilaration 10y agoIt's valuable to have prestigious board members when fundraising, even if they're essentially powerless and have no experience in your industry, like a retired United States Marine Corps general [1]. It give you legitimacy and credibility. [1] https://www.theranos.com/leadership/board-of-directors https://www.theranos.com/leadership/board-of-directors
- aswanson 10y agoWhy should an old military figure lend credibility to a biotechnology firm?