Removing company president
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I work for a small family business in Canada. My mother is the sole shareholder and President. I have 2 brothers and a sister working with me in the business. Mom is now 66yo and for the past 5 years has been making bad decision after bad decision contrary to our best advice. The company has slipped from 1st to worst in this time. Is there any applicable laws in Canada that will allow us to impeach her as President and assume'control', NOT ownership of the company?
AnswerThe shares can vote--if you don't have shares there is not much to do--but you could start a competing business--or threaten to do so...
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