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bloudermilk • today at 4:15 PM • 3 replies • view on HN

How does a CEO pull off resisting an ouster and firing the board?


Replies

jordanb • today at 4:19 PM

Apparently corporate structure gave him power over the board. Historically this kind of structure was considered undesirable and illegal in a public company, but beginning in the 2000s there was this idea that "visionary founders" should be able to demand absolute control, ex: Zuckerberg

doikor • today at 4:17 PM

By personally owning 84% of the voting shares. This coup was doomed to fail from the start.

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VCFundedGenYer • today at 4:26 PM

The same way Mark Zuckerburg does - he maintains majority control.