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Completely wrong, doesn't even make sense. You can easily have BoD individuals with tiny minority stakes in corporations. Sorry to be abrupt, but I really just don't advise making huge sweeping statements on things if your take is just blatantly wrong and misleading.

The personal stake of BoD individuals is completely irrelevant, and your focus on that suggests you don't understand what "by proxy" means.

Who votes to hire or fire the CEO?

Larry and Sergey

the BoD, next question?

So then how is this the CEO when the board actually controls who the CEO is? The CEO is employed by the grace of the board. The performance and decision making of CEO is implicitly approved or disapproved by the board of directors decision on a rolling basis to maintain or terminate the employment of the CEO. The same CEO that meets with the board on a regular basis to answer questions and provide updates .

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