Crash.Net User: Googolplex

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December 05, 2014 10:17 AM
Last Edited 361 days ago

F1 » McLaren fails to reach driver decision

richard: jack. what i said is basically what sushi has said. dennis does not have the casting vote! it was a board meeting, and if 25 % say that one person is wanted, and 75% say the other, then the 25% cannot win. therefore the decision is NOT dennis's. irrespective of what he might have claimed! the final decision is by the board.
Unless you have read McLaren's constitution, you don't know RD only has a 25% vote. The number of shares you hold is usually irrelevant to the votes at a meeting of directors. Ordinarily every director has one vote and the Chairman often has a casting vote in the event votes are equal. The number of shares you hold is usually only relevant to your voting power at shareholder meetings ( eg AGMs), not Board meetings.


December 05, 2014 4:35 AM
Last Edited 361 days ago

F1 » McLaren fails to reach driver decision

richard: thats funny! i pointed out that ron is holder of only 25% of mclaren team and that the decision, or lack of one, cannot be blamed on him, and i got 7 disagrees!! has he staged a coup and bought a majority holding in the team??? wonder how i missed that! so to those who disagree, could you please explain how it is rons fault?
As Chairman and CEO of McLaren, he plays a central part in the effectiveness of the Board in making timely decisions or its lack of effectiveness in this case. The shareholders decide who will be on the Board and the Board is responsible for the management of the Company. The fact he has only 25% of the shares is neither here nor there. The criticism of him is justifiable.


November 26, 2014 1:39 PM
Last Edited 522 days ago

F1 » Ferrari appoints new F1 team principal

Ferrari are not paying money to FIAT Chrysler as part of the demerger. FIAT Chrysler are effectively transferring Ferrari to new ownership via a pro rata distribution of 90% of the shares in the newly listed Ferrari to existing Fiat Chrysler shareholders and FIAT Chrysler will also (as vendor) receive the money from those who suscribe to the 10% of shares taken up in the IPO (float).

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