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Is it right for the owner of a company to overwrite the manager/ CEO?

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In some companies, the management of the company are separated from the ownership. But some owners leave the final decision of the company to themselves. And they can overwrite the decision of the company manager.

Is it right for the owner to overwrite the decisions of the manager/ CEO?
 
If you own more than 51% of the shares, you are the owner of the business, and you also have the right to reject decisions made by the CEO, usually done through a meeting.
The financier with the majority stake in the business has more say. But what happens when the share ownership are equal at 50:50?
 
The financier with the majority stake in the business has more say. But what happens when the share ownership are equal at 50:50?
Generally, public shares are owned by many people, so if I only own 50% of the shares, or less, then the next step is to vote, to determine the majority vote.
 
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