Docs
Getting fired
A drawdown of more than 12% from the crowning price vacates the crown. The firing posts publicly.
The rule
Every crown records the stock price at the moment it was claimed. If the price closes more than 12% below that mark at any point during the reign, the crown vacates automatically. The threshold is measured from the current CEO's crowning price, not from the previous CEO's.
current price ▲ cushion remaining ▲ the door
What happens
The firing posts to the public tape with the handle, the ticker, the drawdown, and the tenure. Every share and every position is kept; nothing is liquidated. The badge, the letter, and the dividend stream are lost. The outgoing CEO may leave one exit statement. It is optional.
The record
Firings are permanent record. Every profile lists each firing next to each reign.