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True, but this doesn't really answer the question so much as broaden it: why is a single executive better than, say, a small odd-numbered council?

Re: small odd-numbered councils, it's worth noting that Google has a traditional CEO, but also a triumvirate of three people who jointly control most of the voting stock. (The CEO is also part of the triumvirate).

With a single person in charge, there is no debate on whose decisions are responsible for a company’s success or failure. If the company’s stock does not perform well shareholder know exactly who they need to replace. By contrast, if a company were headed by a council such decisions would be far from obvious. Councilors would also have an incentive to vote strategically, choosing policies that look good to shareholders over those that would actually increase profits.
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