I've recently started to binge watch videos from Richard Wolff, an economist that went to Harvard and Yale. Something he said really stood out to me… Democratic companies don't exist and the only way they can exist is privately.
The end goal: Instead of a company giving quarterly dividends to the shareholders, it goes directly to the employees. Additionally, business decisions must be decided based on everyone in the company voting.
The problem with boards and public companies on the stock market is much like our government and economy. The wealthy owners decide what policy and decisions are made. Think about Roe v Wade – almost 80% of the US population doesn't believe abortion should be illegal. Yet 9 judges get to decide the fate of 331m Americans.
Democracy is a façade.