I think it makes sense to appoint a CEO who can be dismissed or have their policies dismissed by a simple majority vote and who can be nominated and voted on by anyone during an election. That would help resolve disputes where different sections of the company can’t come to an agreement or similar. As a check on their power, they report to the shareholders and can be voted out at any time and unpopular policies can be voted out without ejecting the CEO so the shareholders still have full power over the company but they don’t need to vote on every single day to day action and there is someone to do a coin flip or arbitrate if there’s a disagreement.

With that said if your company is large enough this is necessary it may be too large to be a co op