[GCA10]

Board-CEO relationships come in three flavors:

- We love our CEO! We'll do anything to keep this boss happy

- We're stuck with a loser, and we need to make a change

- We're in the middle. This CEO has real strengths, which we appreciate, and real weaknesses, which concern us. We're regularly taking stock of the situation, and we'd probably like an orderly transition down the road. But we're probably okay for now.

The third situation is quite common. And in those cases, you don't really need a "pretext" or a "power struggle." You just need the board to say: "We've tolerated a lot, but maybe we've tolerated too much. This new incident is not what we'd be seeing if we had the right CEO."

[itake]

"This new incident" happened almost 2 years ago.

[dplavery92]

True, but it's an incident he only informed the board (including new board members) about in late 2020, and is one aspect of his communication with Bloomberg Business that the board told him to stop for 10 months before being terminated.

[colinmhayes]

The incident is him going to bloomberg, not the actual meeting.