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Automattic CEO Rebuilds Board After Failed Ouster
26 Sep
Summary
- CEO Matt Mullenweg rebuilt Automattic's board after a failed attempt to remove him.
- New board members include a science fiction author and co-founders of IRL.
- Mullenweg controls 84% of voting shares, enabling the board's reconstitution.
Automattic CEO Matt Mullenweg has completely reshaped the company's board following an internal governance struggle. Weeks after previous directors attempted to remove him, Mullenweg has appointed a new board composed of notable figures. Among the new members are acclaimed science fiction author Hugh Howey and the co-founders of the social app IRL, Henry Khatachryan and Krutal Desai.
Mullenweg's decisive action comes after the previous board voted to place him on leave, an attempt he reversed within 33 hours. He utilized his substantial control, holding 84% of the company's voting shares, to replace the directors involved in what he termed a 'coup attempt.' This shakeup also involved changes in legal counsel, signaling potential links to ongoing litigation.
In an internal announcement, Mullenweg asserted his full authority as CEO, President, Treasurer, and Secretary. He noted the board meeting as one of the most interesting in a decade. This reconstitution follows the resignations of former board members and the departure of key executives like the CFO and Chief Legal Officer.
