this post was submitted on 22 Nov 2023
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'We can't trust anything our CEO says' isn't a good justification?
No. They destabilized the value of the company and put their partnerships at risk. It was a dumb move and has had the expected outcome.
The whole purpose of the board is to provide a safety valve. If the CEO is hiding stuff from the board then that seems like a completely legitimate reason to throw out a CEO. It's hard to be a safety valve when the CEO is actively hiding information from the board to make the decisions they need to make.