Section 250V(1)(b)(ii) of the Corporations Act is relevant to your concerns BA.
It states that a spill resolution does not affect
“a managing director of the company who may … continue to hold the office indefinitely without being re-elected to the office;”
This provision exists to minimise any effects on a company’s operations and share price during a period of disorder at board level. Unlike directors, a CEO/MD is a company employee appointed/dismissed by its board and not by its shareholders.
Section 250V(1)(b)(ii) of the Corporations Act is relevant to...
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