On the Netflix series Iron Fist, the Rand Enterprises board of directors eventually
grows so exasperated with Danny’s altruistic antics that it fires him, Joy, and Ward.
As stated in the seventh episode:
LAWRENCE: The board just held an emergency meeting.
JOY MEACHUM: About what?
LAWRENCE: About how you, your brother, and Danny will no longer be on the board…or any part of this company ever again.
It makes sense that Joy or Ward could be fired, since company boards of directors generally have ultimate control of the hiring (and firing) of officers (such as Joy, Ward, and Danny), and without controlling shares Joy and Ward couldn’t dismiss the board members.
However, Danny possesses 51% shares (controlling interest) in the company, and as such can appoint and fire members of the board of directors, among a great many other unilateral decisions. As repeatedly demonstrated earlier in the series, Danny was able to get the company to do basically anything he wanted (whether or not it made good business sense), from ordering that the Staten Island chemical plant be closed down, to requiring that drugs be sold at cost. As he didn’t have a job title, this was simply a consequence of his controlling share. Firing him wouldn’t prevent him from dismissing the board members and reappointing sympathetic ones, or exercising any other authority over the company that he chose as a consequence of his controlling share.
How did they think this would work?