Re:Nvidia prepares to fire CEO Jensen Huang, WSJ reports
by cogman10 on Thursday November 12, 2026 @01:40AM
(#50463805)
Wall Street rarely appoints CEOs, that's the job of the board. And those members generally get there via investment into the company (usually before it goes public).
The MBAs get there often because it's who the board picks when the founder retires.
Re:Nvidia prepares to fire CEO Jensen Huang, WSJ reports
by AnthonyMouse on Thursday November 12, 2026 @02:30AM
(#50464117)
The board is chosen by the shareholders in the absence of some arrangement to the contrary (e.g. the special class of shares), and for a large publicly traded company, the major shareholders are generally going to be large investment funds, i.e. Wall St.
The main thing the special class of shares does is make it hard for them to oust the founder when the founder doesn't want to retire. Once they choose to, they either use their special votes to choose a worthy successor, or they stop caring and you get the default MBA you'd have had regardless.
You're describing the opposite scenario. Generally it's the founders who get a special class of shares which allows them to retain control over the company even when they own <5% of the stock. Without that the company becomes controlled by Wall St. who appoint the MBA to loot and pillage.