CoinVoice has recently learned that according to Axios, Binance’s current CEO Richard Teng confirmed that Binance’s former CEO Changpeng Zhao (CZ) was banned from managing or operating the company for life. According to the agreement of the US Department of Justice (DOJ), Zhao Changpeng will be banned from participating in the company’s daily operations after completing his imprisonment on September 29, 2024.
However, as the largest shareholder, Zhao Changpeng retains all shareholder rights and will still have significant influence on the company. Teng said: "If the company's performance does not meet expectations, as an investor, he has the right to replace or nominate new board members or CEOs, and shareholders can also propose resolutions at any time." [Original link]