Hank
Active Member
However, should there a fundamental conflict between the board and the CEO, the board would prevail.
Just to clear this up, both the board and the CEO have a fiduciary duty to the corporation, not the shareholders. If there's a conflict between the board and the CEO about what is the best course of action for the corporation that's one thing, but neither the board members nor the CEO are allowed to ignore the best interests of the corporation if the shareholders ask them to.