Originally Posted by
Hacker15e
There are 14 personnel on the BoD.
DE Shaw influenced two of those appointments and have an agreement which will allow them to name a third at some point.
It is perplexing to me how 3 members of a board of 14, which represent the interests of Shaw's 1% share of the company, could have "de facto control".
Every member of the board has ONE VOTE. DE Shaw has 2 votes, and the threat of a third which means Raj does what they want him to do. D.E. Shaw's position on the BOD is probably not unlike Fred's level of influence once was.
These BOD members are involved in countless other large corporations. If you're a CEO elsewhere maybe you keep your head down around DE Shaw lest they come make your business "more efficient" by using every nickel to buy stock back and eliminating capital expenditures.