How do I remove a CEO from my company?
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How do I remove a CEO from my company?
Asked on April 17, 2014 under Business Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
Are you the majority owner of the business? If so, you can fire him/her at will, subject only to 1) corporate or LLC formalities (e.g. having to do it pursuant to a board meeting, a resolution, etc.) and 2) any employment contract the CEO has--if there is an employement contract, you can only terminate the employement in accordance with its terms.
If you're not yourself the majority own, but have support of enough owners that you have a majority of ownership, then jointly, you can do as the above.
If you do not have a majority and cannot get a majority to support you, you will be stuck with the CEO.
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