[onemoreact]

The board of directors is based off of stock holders and can always fire the CEO and bring someone new in. But, there is also legal protections for minority shareholders should the majority shareholders decide to dilute the minority shareholders etc. Most notably they can forcibly sell there shares forcing them to dissolve the company if necessarily. But, they can also sue for damages should management fail to protect their interests.

See: C. United States http://www.bc.edu/bc_org/avp/law/lwsch/journals/bciclr/23_2/... As dissolution is viewed as a drastic remedy,169 courts and legislatures have created remedies for oppressed minority shareholders that fall short of requiring the extinction of the corporation.170 Examples of alternative remedies generally include judicial action by means of an injunction or order, appointment of provisional directors or custodians, and buyouts.171 Buyouts, however, have been the focus of alternative relief.172