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Directors, CEO and shareholders are confusing concepts to some people. Actually, they have different responsibilities in a company. 1 __________________ own the company. They form the 2 ________________ system. The CEO runs the company. If there is only one person with absolute power in a company, everyone knows the power will go to the CEO. That’s too 3 ______________. That’s the reason for having a 4 ___________________, which is made up of people who are independent and 5 __________.