The reality Cockerel1 is much different in practise, the board takes no involvement in day to day operations unless a real issue arises that is negative for the future or shareholders. The CEO runs the show and is responsible for the results. In the case of Golden where Clevenger was removed, my guess would be the board agreed to keep him in name only for a certain length of time as part of his exit agreement which would include any options remaining and maybe for his influenece in Argentina El Quevar project. BTW, this project will yet prove very valuable going forward as Argentina improves & some value comes back for minerals assets in that country and recovers globally, of course right now thw value is zero!