big enough shareholders get to place their own board members
you seem to have it backwards:
> Typically, the board chooses one of its members to be the chairman (often now called the "chair" or "chairperson")
you seem to have it backwards:
> Typically, the board chooses one of its members to be the chairman (often now called the "chair" or "chairperson")
Elon Musk, IIRC, was Chairman, Largest Shareholder, and CEO when the deal in question / contract was written.
Elon had a spat with SEC who removed him as chair, but Musk remained largest Shareholders and CEO after that.