Not really. It depends on the type of shares they own. And in most cases the controlling majority, which is always board and owners can make decision themselves by, sigh.... voting.

For example copypasta from https://phys.org/news/2019-04-facebook-shareholders-fed-zuckerberg.html

Mark Zuckerberg owns or controls 88.1 percent of Facebook's Class B shares, which each have 10 votes at the annual meeting—3.98 billion votes overall. There are only 2.4 billion Class A shares, which are the only shares ordinary investors can buy. So any proposal Zuckerberg doesn't like will fail by nearly a 2-1 margin, assuming all Class A investors vote together, which never happens. (Zuckerberg owns 0.5 percent of the Class A shares.)

Not really. It depends on the type of shares they own. And in most cases the controlling majority, which is always board and owners can make decision themselves by, sigh.... voting.