One of the few powers of the board is to fire the CEO. I do not see why there is any need for codified reasons. If the board thinks the CEO should do better, th

One of the few powers of the board is to fire the CEO. I do not see why there is any need for codified reasons. If the board thinks the CEO should do better, that is all that matters. The CEO can be drunk, liar, cheat, steal, and be incompetent only as long as the board thinks it is ok.