Amend shareholders’ rights to control a company

Change the law that currently gives directors almost unfettered control over the company in which they work. Shareholders should be able to vote on any measure that they think fit and any vote passed with 50% plus one should be absolutely binding. (One vote per share)

Why does this idea matter?

The situation that currently exists amazes anyone coming across it for the first time. If 95% of shareholders vote for the removal of a director, the board can ignore it! If 60% of shareholders vote down a remuneration package, their views count for nothing.

The shareholders OWN the company. It should be their company to do with as they wish, subject to the other laws of the country. The directors should be nothing more than employees, whose powers and remuneration are whatever the shareholders award them, and which can be amended or withdrawn at will, by majority vote.

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