Why would you? He’s literally the only person ostensibly in charge of the direction of the company. Destroying the company through a security exemption or a bad business deal - both are the leader making a poor decision due directly to his seat of power.
Give sound advice of course, but ultimately it’s the exec’s decision make.
There are many reasons to deny a CEO ... in a good company structure such denials are circled back around to the board for review.
Case in point: Allowing a CEO with no flight training to "have the keys" to the company <rare, expensive, uniquely outfitted, airframe> because they want to take it for a spin.
Sheparding Royalty in Monarchies has been a neccessary, delicate, loaded, and life threatening role for centuries.
Being a C-suite Groom of the Stool isn't a happy job, but somebody has to do it.