Once a company goes public a board will represent the shareholders.

The CEO will represent business operations.

The two will meet. The board has the authority to fire the CEO if he isn't representing the shareholders. He kept his shares, of course. But it was still super bitter for him, even to this day, which one could understand. He started the company when he was 16 in his garage.

When you are privately owned, you can be a king. When you go public, it gives you access to tons of money and allows you to scale up and expand. But you need to behave.