Quote:
Originally Posted by DeathChill
The Ford family doesn't have majority control. They've got a 6% stake and three seats out of 15 on the board. However, they've got founders stock so that 6% allows them roughly 40% of the vote on board decisions. So in essence, pretty much everyone has to disagree with the Ford board members but it can easily be done.
Honestly though, RARELY do CEO's step down on their own. Generally they are asked and the board finds a replacement CEO. CEO's aren't usually fired or removed in any public manner (lucky them!) because it looks bad for the company. They almost all just 'resign on their own free will.'  Maybe that didn't happen in this case, I don't know, but generally that is what happens. |
Ok so majority is not quite accurate but they have a good amount of control, also Bill hand picked Mullaly and he did step down on his own