A touch misleading. Major companies on the stock exchange pretty much don't give two shits, as most shares are held by super funds or investment vehicles. You'll have five to ten entities owning 90% of the stock, and then 500,000 guys owning the other 10%.
The membership model is very different, it's more of a democracy, and everyone gets an equal say. The only trick being in both cases, you can agitate for change but getting the message out there is difficult.