Under a shareholders' agreement, Orme SA holds the currently exercisable right to appoint the majority of the directors of Hêtre SA, who decide the relevant activities. Frêne SA, a minority shareholder, steers the discussions of the meetings in practice thanks to the strong personality of its chief executive, without holding any particular right. Case convention: Orme's rights are exercisable in practice. Which of the two companies holds power over Hêtre?