Chicken Soup for the Soul Entertainment, the ailing parent of video kiosk operator Redbox and streaming services like Crackle and Popcornflix, has gotten rid of its entire board of directors . The only remaining board member, the company said in an SEC filing late Monday, is Chairman and CEO Bill Rouhana . The company’s investor relations website lists eight other board members, including Rouhana’s wife, Amy Newmark.
In addition to having been on the entertainment company’s board, Newmark is Publisher, Editor in Chief and Author at Chicken Soup for the Soul Holdings. Related Stories News Wonya Lucas, Former CEO Of Hallmark Media And TV One, Joins Comcast Board Of Directors News Oprah Winfrey Exits WeightWatchers Board, Donates Stock; Company Says Moves Aim To Counter "Perceived Conflict Of Interest Around Her Taking Weight Loss Medications" In the filing , the company revealed the move was made on June 11, in accordance with Delaware General Corporation Law. The law allows for “any director or the entire board may be removed, with or without cause, by the holders of a majority of the shares,” according to the filing, which was signed by CFO Jason Meier.
The company declined to comment on the board exits when contacted by Deadline. The holder of more than 75% of the voting power of the company’s common stock had taken the step, the filing explained, to remove without cause all members of the board of directors and the boards of each subsidiary. In a typical corpora.
