Can employees get the BoDs removed? Because something needs to be done here
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IBMs BoD is carefully selected to be a retirement community devoid and removed from anything actually going on. Don’t think for a moment that any of them retiring will be replaced with those more connected to reality. It’s a deliberate thing. A more in touch board would have taken drastic action well before now. One example would have been not allowing JimW to leave but instead replacing the current CEO in return for his efforts to oust Jim. But that’s just one minor example.
At shareholder meetings, all shareholders can cast their votes on topics that are being voted on. It usually does not go down to the individual board member level. You have to look at who are the biggest shareholders of the company to get a sense of whether the proposed voting items will pass per board recommendations or not. As a former exec, I used to get company letters urging us to all vote in the same direction and I'd ignore it and never vote. I don't want my vote to be tracked and get retaliated if I go against the "company direction" but I also can't in good conscience vote "for" whatever they wanted. Eventually that led to my departure - just couldn't take it anymore.
Employees are not owners. They are slaves.
@hhw+1exk3ynS: They'll just find new ganefs to replace the current band of thieves! 🙄
Avg IBM board member age is well into nursing home territory. Given a couple of years the problem will fix itself.
Since IBM employees do NOT have a Union or Labor Contract, we are completely powerless and have absolutely no say in company operations. If more employees had joined the Alliance@IBM Union back when it was active, things might have been different, but now it's too late.
In theory, the stockholders can vote Directors off the Board using their stock voting proxies. Voting against certain Directors was attempted after the Great Pension Robbery of 1999, but that effort never garnered enough support to have any real effect.
No, not directly. But yes, members of the BoD can be removed by vote. Each year, shareholders are asked to vote for or against certain members. Shareholders can also submit shareholder proposals regarding the BoD selection and removal. It's a long process and likely difficult to line up any institutional votes (which is mostly what IBM has), but there is a mechanism of governance to do so.