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This question is about stakeholder vs shareholder.
Shareholders are often the highest echelon of control in a company, though they don't work for the company. Those who own the most shares are often the ones who make decisions on the direction of the company, as well as who the directions are - they usually also select the CEO.
Corporate managers, on the other hand, work for the company. They are stakeholders without necessarily being shareholders. They're invested in the company's success in ways just beyond financially. They're also the ones who carry out the board and CEO's decisions.

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