So then who is controlling the actions of the corporation? If a player is bringing OOC issues into the IC, then that's metagrudging or some other vein of metagaming and should be punished as such. I think players should be able to create characters in any place in the universe, be it a lowly pickpocket or the CEO of a megacorporation. It adds spice to the universe, a face to the corporations, and just more capability for fun.
I will admit that having one person at the head of an entire species does seem a little much, and could be limited to a case-to-case basis with an approval scheme similar to approving lore.