I’m watching this today 01/27/2022 and it’s the Netflix sponsorship for me! 10 years later look at them. The biggest tv streaming service on the market.
thanks for the information, my question is if your working with a company on licensing manufacturing so forth so on one project but you have another idea that you want to get up and going as well and you make the attempt to present it to the same company and that company tell you let work on one thing at a time, would it be a wise move to start working with another company for the new idea?
Hey Jay, as always great video and advice. Question, does every business need to have a board of directors or are they just for publicly traded companies since they are loyal to shareholders? Again, great video and advice and keep'em coming...
Since I am a car fanatic my question is does a automakers board approve or deny new car models? So take GM or example, there was a story where Cadillac was thinking about creating a mega luxo car to take on Bentley, Rolls etc. But they decided against it. So was this just management or dose the board get involved at this point as well? I assume the management has to answer to the board.
Hello there, First of all, great movie. Had a little question though because i heard on boards you have executive directors and non-executive directors. Is it so that non-executive directors are those people assigned by the shareholders (those which you also talk about in your movie) and that the executive directors are actually persons/managers/(perhaps the CEO?) who work inside the company and that get elected also by the shareholders to sit on the board? Thanks for replying.
Questions By: Freddie R.o.s.e. Hey Jay I got 2 questions for you. Could a CEO/ The creator of the company Be a Board of Directors member and still be able to get fired? And can the CEO make a decision without telling the Board of Directors?
so... im guessing majority ruling is the only way they can fire the CEO? is the percentage based upon the share percentage they hold? or is it based upon how many seats are in your BOD?
Exactly happened to me! Jay!..I founded an IT company 2 years back with a big vision. I sold my shares for investment to some people who, at that time were ready to wait for 2 years till the product was built. Just in 1 year we were awarded National award (2016) as the best startup company in Nepal for vision and work. We created a board of 7 people and had more than 300 employees but in just 14 months we started having disagreements on revenue while i was focused on building the product i had promised n would take one more year to build. I, being the CEO and Chairman of the Board tried to use my powers to dismantle the board but all went crazy and things went from bad to worse. and Damn! one day i was called in the board meeting and asked to step down from my own company's board and resign from CEO. It became the shittiest day of my life! I m on legal procedure now and things r in my favor. Can i take some suggestions from u Jay??
Do the board of directors fired the CEO based upon voting? If I received the investment from VC in Series A by company A, how many players will represent this Company A during the meeting?
If you have controlling numbers of stock, it doesn’t mater that you go public...that mantra “it’s about the share holder is pure unadulterated bullshi_! Whomever has control over the numbers has control over the company, even after he was removed Jobs got his company back by selling more of his stock! In the two companies my wife has worked work that went public; less than 2% of the share sold are for “public” investors. The remaining 98% are owned by the owner and Board of Directors as well as the employees that got to purchased their shares at 1/6 the cost of the initial opening; which no one can begrudge! The stock market does not reflect the health of the economy, the only thing it represents is the one demographic that made money during the crash of 08 and the ones making trillions today during a pandemic, MILLIONAIRES-THE ONLY GROUP THAT MADE MONEY WHILE THE “NORMAL PUBLIC SHAREHOLDERS” LOST DECADES OF THEIR WEALTH NEVER TO BE RECOVERED BUT WE BAILED OUT OUR RICH!!!!
A public company board director, and in particular a chairman, has plenty of power over many things, include audit committees, HR processes, etc. The board provides checks and balances depending on the specific rules in the shareholder agreement. This is very different IMHO than a private company director. Therefore... it depends.
@BeatTheBrave Every independent corporation, technically, has a board. I believe there are other options for different corporate structures, but definitely in the case of my companies (C-corporations). You don't need to be public to have a board. -Jay
Yes, if the company's bylaws state that the hiring/firing of the CEO is based on a board majority versus shareholder majority. You can write bylaws so many different ways, and VCs can get law firms to write them any way they see fit. However, generally speaking, if the founder is a majority shareholder, USUALLY that means they can override a board vote with a shareholder majority, which is why people like Zuck are immune from getting fired.
Hi Jay, I have a query regarding the role of board of directors. Do they report to anyone in the company? Also if the decision of board of directors is not compliant with the betterment of the company or say it is not agreeable to employees or any other person in the company, what happens then ? Are board of directors monitored by any other entity in a company. Futhermore, How does one become a member of board of directors ? like way to become one of them. Thanks & Regards
Jay, I always ran smaller private companys. We never formally elected our board. The board consisted of upper management and two inside people important to the company. Because the three exeutives controlled the majority of the voting stock, the CEO could never be fired. Did we do something wrong?
A board of directors constitutes of members selected by the shareholders to create value for them ,after the nomination committee and independent head hunters reccomend to the shareholders on the best qualified the shareholders vote ,that is ordinary shareholders as they are the ones with voting powers ,and one becomes a board member.
I love your insights! Just one Request, the Background Voice is Little loud than your speaking pitch, it gets little difficult to Hear you precisely.. Please Make it more Vocal Clear..Cheers and keep em coming..
If you own most of your company's stock than no they can't !!!!!!!!!! Instead you can vote for yourself to become the board of director !!!!!!!!!! That's what warren buffet and bill gates do !!!!!!!!
Hi Jay, my name is David I’m from Sydney Australia, I was wondering can managing director founding director of a company fired the board director instead of fire him? Because I work for a company the 2 managing director had fired all board of director and he want to hire new director while the fired director want to overtake the company by investing money lawyer say it’s illegal to fire the ceo and the board director share now become receivable. David
How many BOD doES theCompany has and other than ceo who else is there for them.List few please.Are they completely professional, altogether the same and is from the same field or altogether they are different from one another and do they talk on relavant issues? other thing; how much the company has to be big in order to form there BOD and its CEO
company and its size is all set by the number of testcases it has these test cases are the assets of the company and also the family members and their participation is involved with the profit of the company and its size...now a girl
A guy with 24.5k subscribers do some adds for Netflix 😂😂, my god how things can change ironically , and keep in mind that number of subscribers was much less ten years ago
No u cannot as u are the major shareholder , although provided the company terms and conditions and the legal Paperwork that has been set so . Different countries have company acts set accordingly. However a non executive board member does not have the power to fire .
@@anshulb6128 One question, if you are the CEO and Chairman of the board do you have two votes? Obviously if the board want to issue a no confidence vote it's different I imagine, maybe only one.
Hello Jay , I can't thank you enough for the valuable information you are providing. My Question , what is the best resource/ way beside LinkedIn to look for my dream team of board of directors for Pharma / Biotech?
I cant wait to have a board of directors just so I can have some people who are as excited about my project as I am. Getting doors slammed in my face and going on wild goose chases for funding is getting old. lol
it happened to steve job with apple board of director back in the 80s, and everyone really miss him today cards app and siri = islave ouch we miss you steve
Abel Ghide Only shareholders can hire and fire board members because they are people they hired to oversee that their investment in that company is not going to waste but there are some occasions where shareholders sit on the board.
The day someone fires me from my own company is the day I commit my first murder... u have any idea how hard it is to build a company from scratch, blood, sweat, tears, sleepless nights and then someone pushes me out?!