Automattic's CEO Rebuilds Board After Directors' Failed Coup
Automattic has a new board after failed attempt to put CEO on leave
Matt Mullenweg has replaced Automattic's board weeks after directors tried and failed to oust him. The new board includes sci-fi author Hugh Howey, 'Breakup Bootcamp' author Amy Chan, and two co-founders of the defunct social app IRL. Mullenweg, who controls 84% of voting shares, reversed the board's leave vote in 33 hours, then removed or accepted resignations from involved directors. He also replaced legal counsel amid the WP Engine lawsuit.
For purposes of Delaware law, I am the CEO, President, Treasurer, and Secretary.
- betteryet
How did the board plan pull this off if Mullenweg has 84% of the voting shares? For that matter, what is even the purpose of a board in a multi-class share structure with the founder holding above 50% voting shares.
- xnx
Fireship pointed out that the board members gave themselves a generous severance package in the very brief interim, so that was very possibly the whole plan.
- bastard_op
I'm surprised anyone still uses wordpress after this whole sh!tshow, but outside HN folks probably don't even know. Just reading about it about it puts me off from the product and company.
- hypfer
These will be words I will probably have to eat in the future (or when I research that guy's other opinions), but just based on the BS that was thrown at the guy in HN comments, this guy deserves respect for the power move of not giving a shit about these kinds of politics.
Truly an impressive play.
- flerchin
It says he has 84% of the voting shares. Is there any possible way that the board could have been successful? Regardless of Mullenberg, (and I know he's controversial) a coup that is pre-ordained to fail seems like value destroying negligence.
- gadders
If you come at the king, you better not miss (c) Omar Little
- rbanffy
Again, the one thing I love the most about Python is the lack of drama. I don’t want to be forced to practice Drama-driven Development.
- pinkmuffinere
1. Wow his profile picture is so extremely fluorescent
2. I guess I should move my blog off Wordpress