This is done within the business board of directors. It's normally when the business wants to appoint a new CEO, the board of directors will vote to choose the new head in the company. The general staff doesn't have any say in this voting process.Not any I worked for, but I know it's a practice at some businesses and companies. I think an election would usually happen for people being elected to the board of directors or something. Not sure how else one would work.
Well I suppose you could vote on a new manager, leader, shif manager, etc.