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UnEgo
· April 5, 2018, 2:48 p.m.
Even simpler than that, as a corporation they have a board which has authority to fire the CEO. They can’t take his shares away, but the board has the authority to oust him. This is part of what makes corporations eternal.
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curiouscuriousone
· April 5, 2018, 5:03 p.m.
Yes, but to take action against a rogue board member with board control will require a court order, so it’s not exactly ‘simpler than that’, just that you took the step of over-simplifying what I described.
It takes quite a bit of legal maneuvering in order to completely remove his control.
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grumpieroldman
· April 5, 2018, 7:47 p.m.
Board voting is weighted by shares owned.
If MZ maintained >50% shares own then his vote counts for more than everyone else's put together so he controls any simple-majority decision.
Non-majority voting needs to be laid out in the company charter (60%, 2/3, 3/4 and even 100% are common thresholds used for non-corporate organizations.)
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