Shareholder over-reach or necessary intervention?

An interesting development is brewing related to talk of naming Naguib Kheraj as Chairman of Standard Chartered Bank (he is currently NED on the board). No doubt an accomplished banker and manager via Barclays, the question has arisen should a shareholder holding almost 20% of shares be able to block or slow such a critical appointment at a time when the firm's senior ranks are thinning daily (last week the CRO and CIO)?  The need for diligent and robust governance is omnipresent given such departures, as illustrated at Tesco last year, right?  Or, in the theoretical words of governance giants like Lucian Bebchuk, would greater shareholder power to intervene in such situations improve corporate governance practice?  Check out David Wighton's article about the StanChart - Kheraj - Temasek dyamics in the WSJ at http://www.wsj.com/articles/kheraj-faces-hurdle-in-bid-for-standard-chartered-chairmanship-1421316385.