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Should CEO’s become chairmen against the wishes of shareholders?

What is more important- the freedom of a board to manage its own structure, and appoint its CEO as chairman, or the wishes of shareholders who may want to maintain a separation of roles? Which best serves the interests of shareholders, and who should decide? In some jurisdictions there is compulsory separation, in others, notably the USA, it is normal to have combined roles.

http://www.scotsman.com/the-scotsman/business/wood-group-chairman-survives-prWood Group chairman survives protest vote – Management – Scotsman.com:otest-vote-1-2929938#.UZSXmsc4T20.twitter

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