Foxer
macrumors 65816
Re: I don't see this happening
Alright then... what can be done if a director is hindering Apple's product development.
Business Law I. In his capacity as a member of Apple's Board, Campbell (and all the others) must act in the best interests of Apple. To be honest, boards of directors have VERY little to do with operations (by law), and chiefly serve to protect the shareholders' interests by overseing the officers (the only people who can, by law, act for a company).
If an officer acts in manner contrary to the best interests of the company, or fails to act, then the Board is supposed to handle it - as the only body that can remove an officer. If the Board fails to act, shareholders can file suit on behalf of the company (called a derivative suit, a very strange cat on which I wrote a very boring paper) to compel the board to act. If you want to remove a director, something only the shareholders can do, a special meeting can be called to act on the motion after various hurdles are jumped.
So in short, if Apple passes up an opportunity they are aware of and it can be shown that this was because of a Diretor's private position, the board or a lawsuit can comple action. If the DIrector himself is exerting impoper influence (or you just don't like the way he looks), he can be removed by the shareholders.
Now what was the question again?
Originally posted by nuckinfutz
Intuit has a member on Apples Board(Charles Campbell I believe)
and I just don't see Apple developing something that would compete with Intuit.
I'd like to see it but I just don't believe it would happen.
Alright then... what can be done if a director is hindering Apple's product development.
Business Law I. In his capacity as a member of Apple's Board, Campbell (and all the others) must act in the best interests of Apple. To be honest, boards of directors have VERY little to do with operations (by law), and chiefly serve to protect the shareholders' interests by overseing the officers (the only people who can, by law, act for a company).
If an officer acts in manner contrary to the best interests of the company, or fails to act, then the Board is supposed to handle it - as the only body that can remove an officer. If the Board fails to act, shareholders can file suit on behalf of the company (called a derivative suit, a very strange cat on which I wrote a very boring paper) to compel the board to act. If you want to remove a director, something only the shareholders can do, a special meeting can be called to act on the motion after various hurdles are jumped.
So in short, if Apple passes up an opportunity they are aware of and it can be shown that this was because of a Diretor's private position, the board or a lawsuit can comple action. If the DIrector himself is exerting impoper influence (or you just don't like the way he looks), he can be removed by the shareholders.
Now what was the question again?