"Surely there is a CEO out there that can run this company...

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    "Surely there is a CEO out there that can run this company better" – Most certainly there is, but as CEO and Managing Director, has a 20% vote on the board and also is in a position to set fire to the whole business. So if Tim doesn't want to give up the job then three out of the other four directors have to vote against him and then come up with some way to mitigate the damage.
 
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