Yes, but the "people in charge" would logically be the stock holders through the board of directors, not the top management in any case. In many ways, the situation where management has enough equity to control the company is the worst, since they can essentially siphon the rest of the company's equity off in bonuses covering this up by inflating the value of the company - indeed, one might well argue that the class of investors has already completely dispossessed by a class manager/"investors" through exactly this process.