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COOPERATE GOVERNANCE: Can a co-founder and CTO of a company be removed?
Mediumยท 2025-11-15 19:10
Core Perspective - The article discusses the potential for a co-founder and CTO to be removed from their position within a company, particularly in the context of acquisitions and corporate governance [1][4]. Group 1: Removal Scenarios - A co-founder and CTO can be removed through various means, including voluntary resignation, negotiated exit, or involuntary removal by the board of directors or shareholders [5][6][8]. - The removal process is influenced by the company's structure, governing documents, and the founder's equity and voting rights [1][5]. Group 2: Case Study - Apple Inc. - The article references the case of Steve Jobs, who was removed from Apple Inc. in 1985 following a power struggle with the board and CEO John Sculley, primarily due to differing visions for the company's future [2][3]. - Jobs' removal was also attributed to his demanding management style, which created a challenging work environment and led to tensions within the company [4][3]. Group 3: Ownership Retention - Despite removal from management, founders retain ownership of their shares in the company, which is not affected by their operational status [4]. - The degree of influence a founder has post-removal depends on their voting rights and share ownership, which can complicate the removal process if they hold significant shares [8].