Norman Is A Director Of Drive Me Crazy Co A Cab Company (1)

Norman is a director of “Drive Me Crazy Co.,” a cab company. Because he doesn’t want to spend a lot of company money, he hires a cab driver as Chief Executive Officer, who has no experience in managing anything. Norman figures that if you can drive a cab, you can probably manage the company. Derek, a shareholder, thinks that this is a lousy idea and asks you if Norman’s conduct can be challenged on any basis. Can it? Explain.

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