Thread

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

148 points · 194 comments · ilamont

betteryet · 1790454725 · focus · HN ↗
How did the board plan pull this off if Mullenweg has 84% of the voting shares? For that matter, what is even the purpose of a board in a multi-class share structure with the founder holding above 50% voting shares.
1. almostroot · 1790458179 · focus · HN ↗
  They expected this to fail, they gave themselves golden parachutes: <a href="https://techcrunch.com/2026/09/16/automattics-interim-ceo-and-legal-chief-signed-reciprocal-severance-deals-during-mullenwegs-brief-ouster/" rel="nofollow">https://techcrunch.com/2026/09/16/automattics-interim-ceo-an...
  1. ValentineC · 1790458493 · focus · HN ↗
    Don't confuse the board members with other members of their C-suite.
    almostroot · 1790465880 · focus · HN ↗
    You're right, it doesn't seem like the board was involved in the golden parachute. Hard to imagine they tried this out of the goods of their hearts but I cannot find anything concrete to say otherwise

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