Amarin Corp Plc (AMRN): Orb - It depends. Most boards of US corp...

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Will Lar

Re: ORBAPU post# 307436

Friday, 10/30/2020 4:02:38 PM

Friday, October 30, 2020 4:02:38 PM

Orb - It depends. Most boards of US corps have terms, i.e., 3 or 4 years, set by their bylaws. CEOs do have a strong say on whom they want the next candidate to fill in the vacant seat. In addition, I or we've seen some powerful CEOs (i.e., founder CEOs) restructure the board as they deem necessary. Mark Zuckerberg, Elon Musk and the late Steve Jobs are the cases in point. I could be wrong on this but I did hear that the board change can be one of the terms that a leading CEO candidate negotiates hard in order to take the job. After all the board that votes to have you as the next CEO won't necessarily support your strategy afterwards. So it's crucial for an incoming CEO to staff as many allies as possible on the board.

That said, all my experience/information of BoD are from US corps. Amarin is an Irish corp, so the corp governance may be different.