alt Hacker NewsFireship pointed out that the board members gave themselves a generous severance package in the very brief interim, so that was very possibly the whole plan.
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> Fireship pointed out that the board members gave themselves a generous severance package
Unless there was some other news that I might have missed, it was their previous Chief Financial Offer and Chief Legal Officer, not the board members.
Yeah, if Mullenweg really did control a majority of the voting shares, the previous board are the villains in this story no matter what you think of Mullenweg.
How does this even work? Surely if you are going to move them out, you'd revoke the severance package first?
Alternative theory - the board and new CEO understood their actions had high risk of termination and needed compensation for that risk.
That was my guess:
Bizzare self dealing.
Vote out dude who has 84% shareholder control.
Immediately sign yourself a golden parachute deal for 8 million right before getting fired the next day.
Seems like complete breach of fiduciary duty.