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The entire board voted with SoftBank to kick this dude out. He literally refuses to step down. There would have to be a lengthy court battle which the board doe
by colinmhayes 5y ago
The entire board voted with SoftBank to kick this dude out. He literally refuses to step down. There would have to be a lengthy court battle which the board doesn't want.
- amelius 5y agoBecause Chinese law allows what dude was doing, a court battle would have been futile.
- onethought 5y agoBut the Chinese ownership could replace the board, right?
- joshuaissac 5y agoARM HQ and Chinese fund Hopu tried jointly to replace the CEO of ARM China who is refusing to step down. The ARM China board voted 7-1 to fire him but he controls the company seal.
- nl 5y agoIn China, control of the physical company seal means control of the company. The board voted 7-1 to replace him but he refused to hand it over, and used court proceedings to draw out the subsequent legal case until he was in defacto control. The details are in the article.
- onethought 5y agoBut the board can create a new seal?
- nl 5y agoNo they can't.