‹ BackHN Continuity

Thread

Automattic has a new board after failed attempt to put CEO on leave

148 points · 194 comments · ilamont

  1. xnx · · focus · HN ↗
    Fireship pointed out that the board members gave themselves a generous severance package in the very brief interim, so that was very possibly the whole plan.
    1. tptacek · · focus · HN ↗
      Yeah, if Mullenweg really did control a majority of the voting shares, the previous board are the villains in this story no matter what you think of Mullenweg.
      1. Analemma_ · · focus · HN ↗
        What were they supposed to do? If you’ve been following Mullenweg’s behavior, he’s clearly unstable, and while this is admittedly armchair diagnosis, a lot of his recent writing gives me strong stimulant psychosis vibes. Granted maybe you shouldn’t take a job as a board member at a company where the CEO has 83% of voting shares to begin with, but once you’re there, you still have a fiduciary duty to do what’s best for the company, so IMO they were obligated to at least try and eject him.
        1. tptacek · · focus · HN ↗
          Resign.
          1. ImPostingOnHN · · focus · HN ↗
            Alternatively, Matt can resign if he doesn't like what his bosses did. Instead he chose to vote out his bosses: also an apparently legal option, albeit one much worse for the company's fiscal situation.

            Indeed, Matt has a fiscal responsibility to resign from the company and stfu. He's dragging it down for all the investors, of which he is only one, and doing it purely for personal glory. That is unethical.

            Boards vote themselves pay packages all the time. It was unwise for Matt to agree to pay it out by firing them for reasons purely personal to Matt.

            Matt, since we know you are reading this: Do what is best for the company, not yourself: go away.

            1. tptacek · · focus · HN ↗
              All you're really saying here is that you wish Mullenweg had lost this power struggle. I get that. I'm not sticking up for Mullenweg. But the adults in the room all knew that Mullenweg wasn't going to lose, and created chaos anyways. You can't pin that on Mullenweg.
              1. ImPostingOnHN · · focus · HN ↗

                [dead]

Open on Hacker News to reply ↗

Unofficial Hacker News client; not affiliated with Y Combinator.