Corporate Goverance - Episode 6: Boardroom Coups
Organized: The Business Law Breakdown · Seth C. Oranburg
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Show Notes
Professor Seth C. Oranburg unpacks board-CEO conflicts, affirming boards' legal authority to fire CEOs under Delaware law/bylaws, but highlighting real-world fights. Cases include Apple's 1985 ousting of Steve Jobs (coup attempt failed, but he returned triumphantly), Disney/Ovitz ($140M severance for failure, upheld under business judgment), and Uber/Kalanick (forced resignation amid scandals). The episode stresses ego, contracts, and outcomes—boards usually prevail, but at costs like golden parachutes.