the support article regarding CEO change states that customer support will not and can not transfer CEOship of a corporation under any circumstances, so i was wondering if it would be at all possible to regain the CEO position from an inactive character?
due to some drama between the corps CEO and the majority of veteran members most of those veteran members split and formed their own corp while others left for other corporations. of course this lead to a mass exodus leaving pretty much only a hand full of inactive chars and alts.
in the meantime the old CEO involved in the drama stepped down and left too. he transfered the CEOship to someone who then also left and transfered CEO to some other person who then also left and transfered the CEO position to a character who hasn’t been active for almost a year now.
so is there anything that anyone can do or do i have to accept that this corp can’t be saved?
Probably there won’t be much you can do. If there is an active director, and if the corporation owns shares in itself (Every corporation starts with some), the Director can take those shares and call an election for a new CEO, electing themselves using those shares, after which control can be transferred as needed.
If the shares were distributed, or if the person who took possession of them originally can be contacted so they can be invited to the corporation or so they can assign the shares to someone else who is in it, anyone with 5% of the outstanding shares and who is a member of the corporation can initiate the vote and be elected CEO.
If you start a new corporation (or anyone reading this who has one), be aware that the shares created upon incorporation can allow a hostile takeover if they are left unclaimed or put in the wrong hands in exactly the same way as described in the preceding paragraphs. It is generally a good idea to either take possession of them yourself or to distribute them among those you trust so leadership can be transferred in an orderly fashion if you are unavailable or incapacitated. Most CEOs simply claim them as their first executive action.
Run for CEO
Allows for replacing the current CEO by force with the character that started the vote. In order to initiate the vote, the initiator must own more than 5% of the corporation’s total shares. Starting the vote will strip the CEO of all roles for the duration of the vote, but they will be restored if the vote fails. If the vote succeeds, the vote initiator will become the new CEO of the corporation, but it will take a few days for all roles to be transferred to the new CEO.
oh, ok. sadly i don’t even know who has shares in this corp and how many. i have none however. like i said, there doesn’t seem to be anyone left to vote anyways. my guess is the old CEO and founder has all the shares, but he has been inactive too since.
well, looks like i have to find another corp then. too bad, i really liked the name and ticker…
The vote can be proposed and even passed, but the CEO would still have to sanction the action after it passed to create the shares, and if the CEO were available for and willing to do that, they could just transfer the corporation to someone else the standard way.
Best option is for the remaining active players to create their own corp. Transfer any assets you have control of and abandon the shell. If that isn’t an attractive option there are lots of established corporations recruiting that you can join individually or as a group.
