Greg Florimos Boots wrote:Pure specualtion here but if he is staying on like he says then one of the reasons to be removed as a director would be if the company isn't in great financial state which could affect his own business interests if anything major happened. Ultimatley these guys have taken a hell of a lot of hard work and effort to build up their own businesses and it would be silly to risk hurting your own reputation for something which is essentially a hobby.
I don't think the financial health of the company would have anything to do with his resignation as it wouldn't affect any of his other business interests. In my very humble opinion I think the resignation has more to do with he will no longer be involved in any decision making (which requires ratification at board level, basically meaning "he has lost his vote").