The thing that stifles entrepreneurialism is when executives take the organisation on a personal or subjective journey for which shareholders carry the cost and the risk.

Corporate governance is essential to ensure compliant processes and procedures, while shareholder metrics are essential for determining the substance of corporate outcomes (i.e. that the entrepreneurial venture is intended to deliver.)

Of course some CFOs are split - the stronger and more robust the governance procedures, the more accountable the executives. Just because some executives are against it, doesn't invalidate its need.