Directors on Opera's board who moved to toss von Tetzchner out of the company may not be very good at math. When push came to vicious shove, they lacked the votes needed to boot out the chief executive:
Dagens Næringsliv reported that Tetzchner, who personally controls around 15 percent of the company, responded by using his own shareholder power. Allied with the widow of Opera's late co-founder and other key shareholders, they ousted Foldal, Reksten Skaugen and Lorentzen by proposing a new slate of board members.And that was that.
Opera shareholders have been displeased with the stock performance of the company. Unlike the Yahoo stakeholders who finally saw Terry Semel resign from the Yahoo CEO post, Opera's investors will have to back their CEO and hope for better returns.
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Comments
It's a lie
It’s too bad that the former board never tried to fire the CEO, so everything except there being a new board (which the majority shareholders voted for, and only 0.16 per cent against) is a lie. The “power struggle” was the invention of an eager “journalist” who couldn’t resist making up a story.
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