If the board is incompetent, then the CEO will usually be incompetent too. A CEO doesn't make every decision for the company, just the important ones. A new CEO has great impact on a company's present and future unless the company is already organized to give /other executives/ most of his or her responsibilities.
At the companies I've worked at, lower levels never make far-reaching decisions for the company.
At the companies I've worked at, lower levels never make far-reaching decisions for the company.