But, in truth, shareholders make the decision. They own the company - literally. It works like this. . . Companies have an Annual Meeting. Anybody who owns even one share is invited to show up, eat the free food, listen to management campaign to stay in office, step up to the microphone and ask pointed questions, and of course vote on things.
Companies are very economically democratic.
Each share of common stock that you own gives you one vote. The more shares that you own, the more votes you have. But the Board of Directors doesn't meet every day. Some meet once a month, others just gather at each Annual Meeting. That's because it's extremely hard to actually run anything by committee.