of course, but boards are largely impotent. they are too far from the action, don't want to rock the boat even more when things are not going great, and of cour

of course, but boards are largely impotent. they are too far from the action, don't want to rock the boat even more when things are not going great, and of course management easily bamboozles them with some fancy plan ... but in the end there's nothing they can do, except fire the management. but it requires risk taking, and it's a collective action problem ... so if there's a majority shareholder, maybe.. but usually they are the CEO anyway (or appointed it)