I was interested in comparing to what the previous welcome blog post was like:
> Reddit Welcomes Porter Gale to Board of Directors > May 28, 2019
https://redditblog.com/2019/05/28/reddit-welcomes-porter-gal...
Reddit Welcomes Michael Seibel to Board of Directors
311–320 of 393 posts
Re: Reddit Welcomes Michael Seibel to Board of Directors
#312A dumb but serious question: what powers does a board of directors have? In terms of day to day operations, engineering, product, marketing and so on?
Very little in terms of day-to-day, unless a board director decides to make it his/her mission to change something at that very low level. The board meets typically quarterly (monthly depending on the circumstances?) and is generally focused on higher level questions like the company's growth trajectory and forecasts, major problems, compensation strategy, hiring key executives, fundraising, M&A, etc. Like I mentione…
So if they have a meeting every 3 months, what is the rest of their time spent doing? Sounds like a pretty cushy job.
Re: Reddit Welcomes Michael Seibel to Board of Directors
#313Earlier quoted context omitted.
Very little in terms of day-to-day, unless a board director decides to make it his/her mission to change something at that very low level. The board meets typically quarterly (monthly depending on the circumstances?) and is generally focused on higher level questions like the company's growth trajectory and forecasts, major problems, compensation strategy, hiring key executives, fundraising, M&A, etc. Like I mentione…
So if they have a meeting every 3 months, what is the rest of their time spent doing? Sounds like a pretty cushy job.
It's not the full-time job of each member.
Re: Reddit Welcomes Michael Seibel to Board of Directors
#314Earlier quoted context omitted.
I am almost unwilling to advertise this, out of fear that they might disable it if it gains a lot of traffic. But... reddit has older versions still online. Desktop: old.reddit.com Mobile: reddit.com/.compact In fact you can just append the '.compact' to any reddit link on mobile and it will render it more sanely. The day either of these features get disabled, is the day I will stop using the platform. edit: typo
For now you can opt-out from redesign in reddit settings.
I leave this turned off just so their analytics show me bounce to old reddit every time I get the new one. Luckily I don't browse it enough for this to be a large inconvenience for me.
Re: Reddit Welcomes Michael Seibel to Board of Directors
#315A dumb but serious question: what powers does a board of directors have? In terms of day to day operations, engineering, product, marketing and so on?
They represent the shareholders. They usually have the power to hire/fire the CEO and other CxO level management. They run "the company on behalf of its members".
They're expected to set the company's strategy, are responsible for the company's regulatory compliance, ensure that the company is properly reporting its performance to its shareholders, that it doesn't trade while insolvent, etc.
There are "executive directors" that have management responsibility, eg the CEO and "non-executive directors" that do not. In the US, often the CEO and the President of the board are the same person, but that's less common elsewhere and is considered a flaw in corporate governance.
There is also the concept of "independence" where a director is independent of related interests, eg being also related to other corporations that have major business as a supplier or customer etc.
Re: Reddit Welcomes Michael Seibel to Board of Directors
#316Earlier quoted context omitted.
The board of a directors does not get involved with day to day operations. The board of directors sets the strategy for the firm. That is because the board of directors has the authority to hire/fire company management. Board of directors != Advisory board.
"The board of directors sets the strategy for the firm." Not really. The Board is there to oversee the company on behalf of the shareholders. Their primary job is oversight, they hire and fire the CEO, will be involved in recruitment for C-Level. They may or may not be involved with any kind of strategy. They will definitely be involved in financial governance issues such as fundraising, IPOs, major debt issuances. T…
That's because shareholders let them off the hook.
The board represents the members (shareholders) of the company, they are responsible to them for the performance of their company, which reflects the investment in the equity.
The CEO is an employee of the company. The power to set strategy may be delegated to him by the board, but the board is still responsible for it.
Public companies have additional responsibilities of the board because they are also responsible to comply with the market's rules and government regulation (eg SEC regulations) that are stricter for public companies than private.
Re: Reddit Welcomes Michael Seibel to Board of Directors
#317Earlier quoted context omitted.
The board of a directors does not get involved with day to day operations. The board of directors sets the strategy for the firm. That is because the board of directors has the authority to hire/fire company management. Board of directors != Advisory board.
> The board of directors sets the strategy for the firm. I have never seen this be the case, though I can only speak for start-ups and early post-IPO eras. The board provides oversight over the CEO and other executives responsible for planning in the organization. They review quarterly earnings and other financials, and provide feedback and thoughts on what the company wants to do in the subsequent planning period (w…
Which unfortunately didn't happen at HP with the phone hacking scandal.
The Chairman should have taken Patricia Dunn aside early on and told that the board had lost confidence in Her and some of the leadership team long before Patricia was forced out.
Re: Reddit Welcomes Michael Seibel to Board of Directors
#318Please get rid of the flow where it shows me other threads when I click on the comments of a current thread. I'm never going to switch to a new thread from the comments. I just want to read the comments.
>I'm never going to switch to a new thread from the comments. I just want to read the comments.
You might not, I might not but someone must be? I guess... because even Twitter is choosing to just show random tweets from elsewhere under a tweet now instead of the replies.
Re: Reddit Welcomes Michael Seibel to Board of Directors
#319Earlier quoted context omitted.
So if they have a meeting every 3 months, what is the rest of their time spent doing? Sounds like a pretty cushy job.
It's not the full-time job of each member.
I wonder what the income from the positions are though - IE would they make minimum wage if that was the only position they had?
Re: Reddit Welcomes Michael Seibel to Board of Directors
#320Earlier quoted context omitted.
One, you can't use race, gender, etc unless it's relevant to the job, but here it could be seen as being relevant to the job. Two, a board director position is not a job, and so it's not covered by this law.
I’m sure they’ll argue whatever they can. AB5 makes it more difficult to not be an employee in California. And there are far more non-discrimination laws than “employee.”
A member of the board of directors of a company is not an employee.