3 ms·
Can this be possible per bylaws? 1. Board of 6 wants to vote out chairman. Chairman sits out. Needs a majority vote of 3/5. Ilya doesn't have to vote? 2. Rema
by thrwwy142857 3y ago
Can this be possible per bylaws?
1. Board of 6 wants to vote out chairman. Chairman sits out. Needs a majority vote of 3/5. Ilya doesn't have to vote?
2. Remaining board of 5 wants to now get rid of CEO. Who has to sit the decision out. 3/4 can vote. Ilya doesn't have to vote?
- awb 3y agoMuch more likely that he was trying to read the tealeaves and be on the majority side in order to keep a leadership position at a company doing important work. He probably assumed the company would fall in line after the board decision and when they didn’t, regretted his decision. In the end he might have gotten caught in the middle of a board misaligned with the desires of the employees.
- jacquesm 3y agoIt's possible, but that would have to be some pretty sloppy bylaw writing. Normally there are specifications about board size, minimum required for a quorum and timing as well as notification and legal review. Of course if you stock your board with amateurs then how well your bylaws are written doesn't really matter any more.