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In the case of Theranos, Inc., the undertaking sought to address potential misuse by the CEO of her controlling interest in the company by requiring her to relinquish voting control over the Company and mandated that the CEO not profit from her ownership stake until $750 million was returned to other Theranos investors.
This will give him complete voting control over the company.
And the family retains voting control over the stock.
Black was the Chairman and CEO of International and possessed ultimate voting control over the company.
Mr. McCraw is negotiating to gain voting control over Iridium, which has more than $4.4 billion in debt.
The Porsche and Piëch families have total voting control over the German firm, despite owning only half of its equity.
Similar(27)
We tend to assume that in negotiation, power comes from money, votes, control over resources, and so on.
Mr. Strong plans to turn over voting control of his management company, the statement said.
Zuckerberg originally claimed that the new class would have enabled him to maintain his voting control while he ceded over a majority of his shares to a charitable venture.
Although not a "minority," the public shareholders did not exercise voting control due to the Cullmans' control over the Company's Class B Common Stock.
With its shares selling for a quarter of their 1999 peak, it could also be an opportunity for the Ford family, which still has over 40% voting control, to buy back stock at a depressed price.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com