“Making directors irremovable, for any length of time, will damage British innovation and damage corporate governance” says Oxford law expert.
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Controversy surrounding the introduction of dual-class shares for premium listings in the UK continues. One expert has opened a new front, writing that “irremovable directors”—something dual-class shares could create should they go ahead— “are a terrible idea”.
Ewan McGaughey, a researcher at King’s College London and University of Cambridge, draws on lessons from history to make his argument, pointing out directors are not “irremovable” in UK law for good reason: it was a contributing factor to the Great Depression. Writing for the University of Oxford law school blog, he says the loss of shareholder rights to “remove
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