The Reddit users are their customers. If a board has a CEO that is getting a lot of the firms customers upset (in revolt), then the board has to step in to pre

The Reddit users are their customers. If a board has a CEO that is getting a lot of the firms customers upset (in revolt), then the board has to step in to preserve the company. Remember, they had Digg as an example of what can happen when highly mobile customers leave. So far as an example from the automotive industry, look at Rick Wagoner from General Motors. He lost the firm $82 billion and 90% of its market capitalization while he was CEO. And the board did nothing to correct this. With their capital gone, loss of confidence by the market, they were forced into bankruptcy.