Automattic · distress
Automattic Rebuilds Board After Failed Mullenweg Ouster
Matt Mullenweg remains CEO and has rebuilt Automattic's board after the prior directors tried to remove him; he says he controls 84% of the company's vote.
Did Automattic's board remove Matt Mullenweg?
No. The prior board put Mullenweg on paid leave, but Automattic said he returned as chairman and CEO after 33 hours and 20 minutes.
Orbitrum Investor Impact
Why does the board rebuild matter to Automattic investors?
It concentrates governance authority around Mullenweg because TechCrunch reported that he used his 84% voting control to replace the prior board. The dispute also led to departures in senior finance and legal leadership.
Who is on Automattic's new board?
The new board includes author Hugh Howey, Amy Chan, and former IRL co-founders Henry Khachatryan and Krutal Desai.
Has Automattic replaced the executives who left?
Jeremy Klaperman was appointed interim CFO after Mark Davies departed, and the permanent CFO position was still open as of September 18. TechCrunch also reported that a candidate to replace former chief legal officer Andy Missan had verbally accepted the role.
What remains unresolved after Automattic's governance fight?
The prior board has not publicly explained why it tried to put Mullenweg on leave. The reports reviewed also do not quantify a revenue, cash or valuation impact from the dispute.
Sources
- TechCrunch — Automattic has a new board after failed attempt to put CEO on leave
- TechCrunch — Automattic names interim CFO after exec departures
- TechCrunch — Matt Mullenweg talks about Automattic's staffing issues and financials at TechCrunch Disrupt
Original signal: TechCrunch ↗
See more Orbitrum in Google
Add Orbitrum as a Preferred Source to make our research more likely to appear for you in Google Search.