UCLA Law Professor Stephen Bainbridge recently answered the question of whether shareholders may remove a corporation’s chief executive officer and chairman of the board from a Delaware perspective. Like Delaware, California provides a statutory answer:
Except as otherwise provided by the articles or bylaws, officers shall be chosen by the board and serve at the pleasure of the board, subject to the rights, if any, of an officer under any contract of employment. Any officer may resign at any time upon written notice to the corporation without prejudice to the rights, if any, of the corporation under any contract to […]
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