At Iris International, a medical diagnostics company based in Chatsworth, Calif., shareholders rejected all nine directors in May 2011. In keeping with the company’s policy, they submitted their resignations. And then they voted not to accept them. The nine stayed on the board. (The company was acquired in late 2012 by the Danaher Corporation.)Assuming that this is a factually correct version of events and does not omit a key detail of some kind (always a risk when a story seems this outrageous), this is a remarkable separation of the owners of the company from their own board of directors. In theory, could any board-member be replaced under these circumstances?
Comments, observations and thoughts from two bloggers on applied statistics, higher education and epidemiology. Joseph is an associate professor. Mark is a professional statistician and former math teacher.
Tuesday, April 16, 2013
Simply amazing tale of corporate governence
This was just amazing:
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