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It doesn't sound like the CEO has necessarily stolen any money, just that he isn't using them to pay the bills and the board hasn't taken any action to fix the
by colonwqbang 4y ago
It doesn't sound like the CEO has necessarily stolen any money, just that he isn't using them to pay the bills and the board hasn't taken any action to fix the problem.
This problem can likely be solved by the board simply electing a new authorised signatory from their own ranks. Assuming anyone is still around who wants to take on such a role.
The fact that it hasn't happened (?) would suggest that the real problem is a general lack of interest from those involved, not just the CEO.
- vikramkr 4y agoYou're right, there's so many ways they could have intervened. It also seems pretty clear that they do want to take on such a role, since they've gone ahead and created another organization that does the same thing. It's so baffling that they seem to think the way to go about it is to give up on regaining control of the organizations funds and start a new one, and expect that people will just trust the new one somehow