News & Analysis as of

Board of Directors Resignation

Fox Rothschild LLP

A Member of a Delaware LLC Can Withdraw Their Membership by Implied Agreement

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The Court of Chancery recently concluded that a member of a Delaware LLC could reach an implied contractual agreement to withdraw as a member of the LLC, even if the LLC does not have a written operating agreement....more

Robins Kaplan LLP

Financial Daily Dose 3.10.2020 | Top Story: US Markets Dive Again in Worst Trading Day Since 2008

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Monday on Wall Street was the equivalent of a well-forecast storm that still managed to blow meteorologists’ minds. The deadly combination of diving oil prices and yet more COVID-19 worries spelled disaster for U.S. markets,...more

Robins Kaplan LLP

Financial Daily Dose 1.31.2020 | Top Story: IBM CEO Ginni Rometty is Out After Eight Years at the Helm

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In a week that’s already seen plenty of C-suite shakeups, we’ve learned that Ginni Rometty is stepping down from her role as CEO at IBM. The company’s cloud computing chief, Arvind Krishna, will take over for her, though...more

Robins Kaplan LLP

Financial Daily Dose 12.04.2019 | Top Story: Google Co-founders Step Down From Executive Roles at Parent Alphabet

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Google announced late Tuesday that co-founders Larry Page and Sergey Brin are “stepping down from executive roles at Google’s parent company, Alphabet.” Google CEO Sundar Pichai will now helm both operations, while Page and...more

Cooley LLP

Blog: How to Handle Changes on Your Board of Directors

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Board members tend to stay with companies for a relatively long time, but, like employees, sometimes it makes sense for a board member to leave. Here is what I try to do when a board member departs: - Clear...more

Morris James LLP

Court Of Chancery Reverses Director Resignation

Morris James LLP on

In this unusual case, the Court of Chancery has reinstated a director who was tricked into resigning. The opinion has a good discussion of how directors may resign and when their resignation is not effective....more

Akin Gump Strauss Hauer & Feld LLP

Delaware Supreme Court: Directors May Resign by Oral Statement

Last month, in Biolase, Inc. v. Oracle Partners, L.P. (Del. June 12, 2014), the Delaware Supreme court affirmed the oral resignation of a director while on a board call....more

Allen Matkins

Why Biolase v. Oracle Partners, L.P. May Not Be The Last Word On Resignations

Allen Matkins on

Yesterday, I mentioned the Delaware Supreme Court’s recent holding in Biolase, Inc. v. Oracle Partners, L.P., 2014 Del. LEXIS 278 (Del. June 12, 2014). In an opinion written by Chief Justice Leo E. Strine, Jr., the Supreme...more

Allen Matkins

May A Director Resign By Telling Another Director “I Quit”?

Allen Matkins on

Suppose in a fit of pique, a director telephones a fellow director and announces that she is quitting the board. Has the director resigned? California Corporations Code Section 305(d) provides...more

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