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Nairaland Forum / Nairaland / General / Investment / Can The Board Of Directors Fire The Owner Of A Company? (38080 Views)
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Re: Can The Board Of Directors Fire The Owner Of A Company? by IamPlato(m): 8:00pm On Jun 06, 2021 |
That will happen if you register your company as public limited liability or partnership company.... Not sole proprietorship. 3 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Sarmiz24(m): 8:00pm On Jun 06, 2021 |
You are mis using the word board of directors bruh, Board of directors are employed by the Shareholders, mostly even employed by the founder... only share holder can take you off your sit not board of yeye directors oshi and even before the share holders can take you off their have to be vote of trust if ur %% shares accumulate to 55% upward na them go leave the company for you... and the only other way u can also be taken out is if u are mishandling funds or mismanagement thanks 4 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by tutudesz: 8:00pm On Jun 06, 2021 |
Kzinne:Not all of Dangote business is on the stock exchange and he has been using 3rd party to buy back most of his company stock. He is the face of the company, removing him will after the share price negatively. 7 Likes 1 Share |
Re: Can The Board Of Directors Fire The Owner Of A Company? by stanley000: 8:01pm On Jun 06, 2021 |
laplace12:and he was reinstated... |
Re: Can The Board Of Directors Fire The Owner Of A Company? by phazotron(m): 8:01pm On Jun 06, 2021 |
Havertz10: You can limit the amount of ownership the investors have. You can take control of the company by buying back their shares Although that one na big money u go need do am Just make sure you hold majority shareholding to surpass those of the investors. That way, you're always in control, even if you're not the ceo and them no go fit make decisions without you 4 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by sandra50(f): 8:02pm On Jun 06, 2021 |
Oh wow..is that why Acidosis: 3 Likes 1 Share |
Re: Can The Board Of Directors Fire The Owner Of A Company? by henryobinna(m): 8:02pm On Jun 06, 2021 |
Kobicove:what determines if they can be fired isn't if they're suitable for the job. It simply their share percentage. If they have the controlling share amount safest is 50% then they can not be sacked due to obvious reasons. If they own anything less than that, then it doesn't matter much if they're suitable for the job or not, it now becomes company politics if they really want to play that route. Steve Jobs was once sacked from Apple. 4 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Kzinne: 8:02pm On Jun 06, 2021 |
Hseffa:SEC is in charge of the NSE so no news 2 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by henryobinna(m): 8:03pm On Jun 06, 2021 |
Premiumwriter2:yea and that is why it is good to have money, if you have money you could have the largest investment in the company thereby giving you more control, meaning you might not need much investors anymore. 3 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by SunTzu123(m): 8:04pm On Jun 06, 2021 |
Casper21: You used some terms and thought you would clarify them; A founder who is in charge of the company at the same time is MD/CEO. MD stands for Managing Director. This means; 1. You are on the board. 2. You are running the company. You can be a CEO even when you're not on the board. In this case, the board can fire you at any time. As a founder, if you hold the highest number of shares, you will always have the majority vote in any voting scenario. However, if you are a founder, and you have financiers who, together hold cumulatively higher number of shares, you could be voted out as the CEO. Ever noticed why in the Dragons Den, the entrepreneurs are always looking for someone to invest for 20 or 25% and the dragons are always asking for 40%? 5 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by henryobinna(m): 8:04pm On Jun 06, 2021 |
beautyhd:once a founder is always a founder. In my opinion it is always best to relinquish power after sometime and play from the background. 4 Likes 1 Share |
Re: Can The Board Of Directors Fire The Owner Of A Company? by sandra50(f): 8:04pm On Jun 06, 2021 |
Didn't think of this before registering my company then..now I'm thinking of using my brother but but I think it's not wise..I will get married some day and have kids and when I do I would like to make some of them my directors so I better leave it for now and when I want to change it I do that once and for all tutudesz: 3 Likes 1 Share |
Re: Can The Board Of Directors Fire The Owner Of A Company? by emmanuelewumi(m): 8:04pm On Jun 06, 2021 |
lastchild: You still have your shares and earn your dividends. 5% ownership of MTN Nigeria will fetch the shareholder a dividend of about N8 billion. Better to own 5% of a big business than 100% of a struggling business. Fola Adeola and Tayo Aderinokun are the founders of GTB. I doubt if both of them own 10% of the bank, but Fola and family of Late Tayo Aderinokun are earning billions of Naira as dividends every year 8 Likes 2 Shares |
Re: Can The Board Of Directors Fire The Owner Of A Company? by henryobinna(m): 8:06pm On Jun 06, 2021 |
BigDawsNet:10% is no small amount if the company is a really large company. Many popular founders(turned CEO) that we know don t own upto 10% of their companie 5 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by emmanuelewumi(m): 8:07pm On Jun 06, 2021 |
LOVEGINO: Dangote has 80% of Dangote Cement 75% of Dangote Sugar 2 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by FengChui(m): 8:07pm On Jun 06, 2021 |
quincyshakur: Yes o! Whenever I have issues with my dad, the man I'll just walk me out of his house. I'll have to come back days later with relatives to beg him. Me and my Popsy quarrel one day, the Manny say make I comot from him house. I told him to go out and go to his father's house as this is my own father's house. Baba just form vex, comot from house go drink beer. When we settled, he told me never to tell him that again. But he learnt his lessons. He never ordered me out of the house again. 6 Likes 2 Shares |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Yankee101: 8:10pm On Jun 06, 2021 |
Absolutely He's supposed to bring his people to his board room to represent his shares and interests. If he's putting the company at risk he can be removed |
Re: Can The Board Of Directors Fire The Owner Of A Company? by henryobinna(m): 8:10pm On Jun 06, 2021 |
tutudesz:wow! I never knew this. Does this apply only to Nigerian stock exchange or all over the world 3 Likes 1 Share |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Goalnaldo(m): 8:11pm On Jun 06, 2021 |
I like this thread. Not only is it educating but devoid of tribal sentiments and backlash. Mods should endeavor to move threads like this to front page more often. I'm really tired of seeing Igbos, Afonja, etc. 11 Likes 1 Share |
Re: Can The Board Of Directors Fire The Owner Of A Company? by professore(m): 8:15pm On Jun 06, 2021 |
What an eye opener |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Available247: 8:19pm On Jun 06, 2021 |
Only intelligent and business oriented people can be on this thread. It's quite informative, thanks OP. Now I know what to do when creating my own company 8 Likes 1 Share |
Re: Can The Board Of Directors Fire The Owner Of A Company? by IYANGBALI: 8:22pm On Jun 06, 2021 |
That was exactly what lalasticlala, mynd44, dominique and other moderators did to Seun 3 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Nobody: 8:24pm On Jun 06, 2021 |
These are well educated men I can see Twale 4 una 1 Like |
Re: Can The Board Of Directors Fire The Owner Of A Company? by ucybaby(f): 8:26pm On Jun 06, 2021 |
This reminds me of the movie: The Family that preys... 2 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Skyfornia(m): 8:27pm On Jun 06, 2021 |
Shegzy8: Why not give the landlord the ones you have and promise to pay the remaining 15k by month since you are sure you can get it |
Re: Can The Board Of Directors Fire The Owner Of A Company? by patorial(m): 8:28pm On Jun 06, 2021 |
Premiumwriter2: You been fired doesn't mean you will lose you stock, just that your position in the excutive will be taken. 2 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Nobody: 8:28pm On Jun 06, 2021 |
Case study the founder of apple Steve jobs |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Skyfornia(m): 8:29pm On Jun 06, 2021 |
FengChui: Super story...you are proud to be dragging your papa house with him? I dey shame for your behalf 3 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by ugo4u: 8:30pm On Jun 06, 2021 |
Yes of course. Steve Jobs was fired from the company he founded. |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Tony142: 8:31pm On Jun 06, 2021 |
LagbajaTheBEREAN: Boss, is it possible to own 100% of them company? Because I will like to own my company myself, I no want any useless partnership 2 Likes |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Fanuchi007: 8:33pm On Jun 06, 2021 |
You will be fired but your shares will be intact. You no get d comp6but company go still de pay you |
Re: Can The Board Of Directors Fire The Owner Of A Company? by Skyfornia(m): 8:34pm On Jun 06, 2021 |
sandra50: Nwanyi oma...let's get married and raise kids. Oge adiro! |
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