The rights and equitable treatment of shareholders and employees
Shareholder powers
What powers do shareholders have to appoint or remove directors or require the board to pursue a particular course of action? What shareholder vote is required to elect or remove directors?
Shareholders can appoint and remove directors. If not provided otherwise in the company’s articles of association, the appointment or removal of a director in a private limited company requires a simple majority of the votes of the shareholders attending the meeting. However, the removal of a director in a public limited company requires the votes of not less than three-quarters of the number of shareholders attending the meeting with the right to vote, and the total number of shares is not less than half of the number of shares held by the shareholders attending the meeting who have the right to vote.
Shareholder…
