• Lvxferre@lemmy.mlM
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      1 year ago

      Chairmen are usually elected by the shareholders, with a weighted vote - if people holding more than 50% of the shares voted to replace spez, then spez would be out. In this case it means that either a lot of shareholders in Reddit agree with spez, or that the most powerful ones do it.

        • Lvxferre@lemmy.mlM
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          1 year ago

          IIRC the biggest shareholder is Conde Nast(y). They’re also behind Wired and Ars(e) Technica, that have been criticising Reddit’s decision, so I don’t think that they’re too happy with Spez.

          But yeah, it’s corpo-marketing all the way - from corpos, to corpos.