This is the situation of entrepreneur – EB2 and filed AOS received EAD (Employment Authorization Document). Is it possible for a person on EAD status to own a business and work as CEO of their own business ? Probably not as EAD For employment based green cards, the green card applicant uses AC21 and may use his/her EAD to work in a similar job that was filed in I140 case.

Here is great discussion from a post by stevesmith155 in Hacker News. Few options that seems possible from comments are -

1) Use o-1 visa – Something similar to EB1 and who qulifies as extroadinary people.
2) Set up a company in India and use B1 visas for visits to US and basically forgo green card in us

I feel if the guy is married the other option would be to incorporate a company name on spouse name as spouse should have got EAD.