So, if there's 6 board members and they're looking to "take down" 2... that means those 2 can't really participate, right? Or at the very least, they have to "recuse" themselves on votes regarding them?
Do the 4 members have to organize and communicate "in secret"? Is there any reason 3 members can't hold a vote to oust 1, making it a 3/5 to reach majority, and then from there, just start voting _everyone_ out? Probably stupid questions but I'm curious enough to ask, lol.
There is nothing business-y about this. As a non-profit OpenAI can do whatever they want.
OpenAI isn't a single person, so decisions like firing the CEO have to be made somehow. I'm wondering about how that framework actually works.
I mean, I still wonder though if they really only need 3 ppl fully on board to effectively take the entire company. Vote #1, oust Sam, 3/5 vote YES. Sam is out, now the vote is "Demote Greg", 3/4 vote YES, Greg is demoted and quits. Now, there could be one "dissenter" and it would be easy to vote them out too. Surely there's some protection against that?
Typically, these documents contain provisions for how voting, succession, recusal, eligibility, etc are to be handled. Based on my experience on both for-profit and non-profit boards, the outside members of the board probably retained outside legal counsel to advise them. Board members have specific duties they are obligated to fulfill along with serious legal liability if they don't do so adequately and in good faith.
Why would they issue a statement saying that he was going to stay on without some form of assurance from him?
I mean, you're writing a release stating that you're firing your CEO and accusing him of lack of candor. Not exactly the best news to give. You're chasing that with "oh by the way, the chairman of the board is stepping down too", so the news are going from bad to worse. The last thing you want is to claim that said chairman of the board is staying as an employee to have him quit hours later. I find it hard to believe that they'd make mistake as dumb as announcing Greg was staying without some sort of assurance from him, knowing that Greg was Sam's ally.
This feels like real like succession panning out. Every board member is trying to figure out how to optimize their position.
Maybe to make it clear that if he leaves, it is him quitting not him being fired. This would avoid potential legal issues.
Maybe they thought there was a chance be would stay.