Plot direction.
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I haven't watched Succession, but I suspect Logan Roy is the majority shareholder. If you hold 51% of a company's voting shares, you effectively can do what the fuck you want with it, board or not. By the time Osborn loses his company, he's not a majority shareholder anymore, and the rest of the board controls enough of it combined to oust him.
Logan Roy is a thinly veiled Rupert Murdoch. Murdoch has a controlling stake in NewsCorp.