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this post was submitted on 14 Dec 2024
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Because CEOs are a symptom.
The problem is our investment economy that focuses only on the stock prices continually going up. It's literally an unsustainable system.
If a CEO puts their personal safety over the investors, the company gets a new CEO.
They're not the one really making the worst decisions, they're the ones who agreed to take a shitton of money to be the face of the company and take all the blame.
CEOs don't get paid for the work they do, they get paid to be the fall guy.
Still absolutely shit people who deserve zero sympathy, but they're not the real problem, just a symptom
Yep, we have a word for continual uninhibited growth - it’s called cancer.
Yup, this is the problem right here. Investments are supposed to generate returns, that's the whole point. But Milton Friedman and Jack Welch decided that the sole mission of any company was to increase shareholder value, and the rest of the world rolled with that. So whenever these CEOs point to their Mission and Vision statements, unless they say "Our only priority is delivering returns to our Shareholders", they are lying.
https://en.m.wikipedia.org/wiki/Shareholder_value
Meanwhile, we've decided that these corporations are people. Psychopaths who have no moral responsibilities to anyone but their shareholders, but people nonetheless.
How many times will they be willing to get a new CEO before they make changes? How many times will someone accept promotion into that position? I wouldn't take Brian Thompson's job for any amount of money right now, would you?
They'd do it on the daily if it makes them more money...
What do you think a CEO actually does?
They listen to what high level management says is best, and then just does whatever brings the stock price up fastet disregarding everything else.
There's a reason they all get golden parachutes. None of them care past the last board meeting