"No large concentrated stockholding exists which maintains close relationship with the management or is capable of challenging it, so that the board of directors may regularly expect a majority... to follow their lead. Thus they need not consult with anyone when making up their slate of directors... They select their own successors."
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p. 73; As cited in: Leslie A White, ‎Robert Carniero, ‎Benjamin Urish (2008) Modern Capitalist Culture. p. 387.
https://en.wikiquote.org/wiki/Adolf_A._Berle
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Adolf A. Berle
Adolf Augustus Berle, Jr. (January 27, 1895 – February 17, 1971) was an American lawyer, educator, author, and diplomat. He was the author of , a groundbreaking work on corporate governance, and an important member of U.S. President Franklin Roosevelt's "".
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