[Ducati] Minoli Fired!

[Alex]

At 11:06 PM 3/26/2007, you wrote:
>Word has it that Minoli has been let go....

And where did this "word" come from?

Someone explain to me how the CEO, which is an elected position by 
the shareholders, can be "fired" by the company (apart from a 
shareholder vote)...

..I think they failed to teach that in my corporations class in law school.

CEO's are not fired or "let go" they are either voted out (usually by 
request) or they are dismissed by the board when they have breached 
the duties of the position in an egregious manner.  Usually this 
requires a unanimous or super majority vote of the directors.

Minoli has been CEO of Ducati since they were bought by TPG.  He was 
appointed to that position by TPG (who was the majority shareholder) 
and had come from McKinsey & Co. with top-notch business consulting 
credentials.  He left Ducati briefly (i.e. he left TPG) to head 
another company but then was requested to go back to Ducati about 2 
years later.  (See Minoli article 
"<http://emagazine.credit-suisse.com/article/index.cfm?fuseaction=OpenArticle&aoid=66334&lang=en>Ducati: 
a success story in red," Credit-Suisse EMagazine, Sept 8, 2004)

So he's been CEO for almost 10 years.

Now, if anyone else here besides me is a stockholder in DMH, you'll 
have gotten your voting and proxy statement information in the mail 
about a month ago and you'll see that the board (of which Minoli is 
the chairman) is planning to hold an executive level vote (i.e. for 
the CEO position).  That means that Minoli himself wants to step 
down, most likely.

CEO's are not just handed a pink slip and shown the door.



At 11:06 PM 3/26/2007, you wrote:
>Word has it that Minoli has been let go....
>
>