Farhad Moshiri

[The Esk]

@bizzarro Wasn't commenting on anything other than the fact in law that BK still has power because other people had asserted he hasn't.
If you aren't prepared to accept that and try and make my post something it wasn't, good luck.
People a sight more savvy than yourself picked up on it.

The key caveat is "in law". In reality in private businesses the major shareholder (particularly someone who is going to become majority holder through investment and take up of options) calls all the shots and the board follows his/her direction. This is entirely my premise when I say that Bill has no power and no influence (should Moshiri disagree or choose to ignore it, which I'm certain is the case) over team management appointments and retention.

 

[hibbo'sclass]

In law. BK does have some power. However, in law BK has liability for it too. If Moshiri did want to dispute anything.

Either way BK will want to cooperate with his major shareholder and with a proxy on the board. Or he would be a little bit silly.

Whilst there are provisions within the 2006 Act to hold a director to account, all he need do is show he honestly believed he was doing the right thing - very difficult to prove otherwise and had this discussion on the board thread from memory.

 

[bizzaro]

Is his indepedent status inversely proportional to his shareholding perchance?

The chairman is expected to execute decisions impartially favouring all shareholders in the business. Not just one or two or himself.

 

[The Esk]

In law. BK does have some power. However, in law BK has liability for it too. If Moshiri did want to dispute anything.

Either way BK will want to cooperate with his major shareholder and with a proxy on the board. Or he would be a little bit silly.

I think you'll find any power arising from the position of Chairman arises from the Articles of Association not from legislation.

Bill will do as he is told, like the rest of the directors.

 

[Goat]

Damo bail for Gods sake.

 

[Foot Long Hot Dog]

This has got @mikewex II written all over it

 

[hibbo'sclass]

The key caveat is "in law". In reality in private businesses the major shareholder (particularly someone who is going to become majority holder through investment and take up of options) calls all the shots and the board follows his/her direction. This is entirely my premise when I say that Bill has no power and no influence (should Moshiri disagree or choose to ignore it, which I'm certain is the case) over team management appointments and retention.

Theoretical and in law, used both cavaets and still getting grief- must have been a bad man in a previous incarnation.

 

[orly]

Damo bail for Gods sake.

This in danger of being another rout for Matthew here

 

[bizzaro]

I think you'll find any power arising from the position of Chairman arises from the Articles of Association not from legislation.

Bill will do as he is told, like the rest of the directors.

The articles of association govern the appointment of and/or the position of the chairman of the board. However, the law is the law is the law Esk. Regardless of private undertakings.

 

[Moomin]

This has got @mikewex II written all over it

Eye of the Gekko.

 

[The Esk]

The articles of association govern the appointment of and/or the position of the chairman of the board. However, the law is the law is the law Esk. Regardless of private undertakings.

In corporate law there is no differentiation between directoral responsibilities and liabilities and that of a Chairman, the distinction does not exist.

 

[Goat]

The articles of association govern the appointment of and/or the position of the chairman of the board. However, the law is the law is the law Esk. Regardless of private undertakings.

Quick Damo, I will distract him while you get on your toes lad.

 

[Foot Long Hot Dog]

I sense The Esk winding up a haymaker here.

 

[Moomin]

@chicoazul come out of the shadows, this is going to be good.

 

[Foot Long Hot Dog]

In corporate law there is no differentiation between directoral responsibilities and liabilities and that of a Chairman, the distinction does not exist.

....and there it is lol