Originally Posted by
EDLB
"who would have authority legally to "fire the Board"?"
Easy. The shareholders.
However that are usually institutional investors (Vanguard etc.) with no knowledge about building planes. The the next feedback loop will be filing bankrupt. I am sure that some tax dollars will be wasted to avoid this.
Firing the Board is the least likely course for shareholdrs. Even firing the CEO is HIGHLY unsusual.
Why?
To do so will almost certainly destroy shareholder value without ANY guarantee of solving the problem. A company has to be in major difficulties for this to even be contemplated, and major shareholders have to both act in concert AND have a replacement (or replacements) in place. Even a whiff of plannnig forsuch actons will tank share values.
Not going to happen.