In the US the CEO is often also the chairman of the board so they are accountable to themselves.
Which is kind of weird and illegal in many countries, but in the US it is almost the norm.
Which is kind of weird and illegal in many countries, but in the US it is almost the norm.
Also no, chairman isn’t only accountable to themselves. Where did you read that? Investor having seats on board is so they can have a voice in the direction of the business.
Activists investors often try to have a minority stake and a board member so they can force changes at the company -[0]. A recent example is Elliott’s effort at Southwest Airlines -[1]
[0] - https://www.investopedia.com/terms/a/activist-investor.asp
[1] - https://www.reuters.com/business/aerospace-defense/elliott-b...
Not sure why you include investors all of a sudden, as I didn't mention about that. I have no issue with shareholders having a seat on the board.