Relagation Analysis
- Thread starter DragonPhilljack
- Start date
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Yeah ok.....Jenkins will leave when he wants to leave....The chairman's job is neither here or there because he is a shareholder and should he want to cut ties with the club all together then he will sell his shares and walk away a very rich man indeed.....I would if i was him....
I suspect Dai that it will depend either on what is included in the Shareholder Agreement or what is included in his employment contract.Jenkins is a shareholder...good luck with that...
As a Shareholder, there is no right per se to a seat on the Board - unless the Shareholder Agreement includes such a right for an individual or for a ‘group’ of people (eg - holders of more than 5% of the Share Capital)
Even if there is a right, that may not preclude the Yanks from sacking Huw from his paid employment - in short, his position as an ‘employee’ is different from his Shareholder status.
As Chairman he has certain rights and he has been earning around £500.000 a year, Now if the Americans want to sack him from that job they will have to pay him a lot of money in compensation......The Americans won't want him to leave anyway there is no suggestion of him leaving from anybody and Jenkins would be more inclined to want to leave the chairman's job before anyone would want him sacked...His shares he has are worth per share the same as everyone else and he can keep or sell it's down to him.....
Dai - Huw is Chairman for as long as either the Yanks want him as Chairman or for as long as was stipulated in the Shareholders Agreement.
As for compensation, if Huw had agreed a set period to remain an an employee, once that period has lapsed, there may be no compensation payable.
Don’t forget Dai - Venture Capitalists are not normally known for their generosity and benevolence....
That is what i said...Jinx i dont think is worried about the chairman's job and is paid a tidy sum to remain there....He is in a good position with the money they want to pay him for his services and owning shares he cant lose......