Nope. It is true. The board has the power to hire and fire the CEO. Sometimes a founding CEO has sympathetic friends on the board and can arrange the company

Nope. It is true. The board has the power to hire and fire the CEO. Sometimes a founding CEO has sympathetic friends on the board and can arrange the company to be able to nominate board members. BUT, board members are not answerable to the CEO. The CEO answers to the board. That is one of the reasons for a board of directors...