[geofft]

The target audience of my suggestion is founders who don't yet have board members or CEOs who currently have like-minded board members, and who don't currently have public ownership.

You're right, once you've given up ownership to the public, it's a little too late for the current legal entity. But it's not too late to quit your job and start a new workplace.

[PeterisP]

Okay, that makes sense. However, that's plausible only if the founders can afford to start a new workplace from their savings alone without ever attracting external investment. A fully bootstrapped company can keep full control, but any significant investment will require the company to cede that control and have a "standard" board structure that can ensure that the interests of the owners are taken into acocunt.

[Grustaf]

In other words, founders without investors. They seldom have a lot of employees though.