So who voted on this? Just the two guys at the top who gave themselves full voting power for the company?
m 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 16, 2017 Karl Power was removed as a member of the board of directors of Excel Corporation (the “Company”). Mr. Power’s removal was done by written consent of a majority of the voting interests of the Company’s common stock as permitted pursuant to its bylaws.
Karl Powers
Director
Karl is a Corporate Advisor with over 30 years experience, primarily in the financial services industry, and currently consults for a number of companies in the payments industry. He is the founder and CEO of Active In-Home Therapy, a San Francisco, Bay Area health-care agency. He began his career as an Institutional Investment Manager with Allied Irish Bank in Dublin, Ireland, managing over US$3Bn in equities, bonds and currencies. He moved to investment bank Paine Webber in NY in 1990 before transferring to London with Merrill Lynch. He later was a founding partner of Robertson Stephens LLC’s London office, before moving to San Francisco with that organization. He has a wide range of consulting experience, ranging from restructuring a low cost airline in Mexico to advising professional sports team in London on their capital market options. More recently, Karl has confined his work to the payments industry and health-care. Karl has a Bachelor of Commerce and Masters in Finance degrees from University College Dublin, where he was awarded a Research Fellowship from KPMG. Karl is qualified as a Management Accountant with the British Association of Management Accountants and currently lives and works in Silicon Valley, CA.
