5 ms·
Oddly enough nobody is concerned with fiduciary duty when a CEO pulls a few million dollar bonus out of a failing company.
by cmdrfred 10y ago
Oddly enough nobody is concerned with fiduciary duty when a CEO pulls a few million dollar bonus out of a failing company.
- ryanlol 10y agoThe CEOs don't set their comp. Also, depending on the company "a few million dollars" isn't even a meaningful amount of money.
- PeterisP 10y agoThe shareholders and board very much are, although for a failing company often they will set up a CEO with the explicit goal to wind down the company my milking it to death (which often takes many months or years, and starts long before employees would be notified about the plan) and offer multimillion bonuses conditional on extracting dozens more millions for shareholders from a dead horse by riding it in sunset until all that's left is debt to "someone else".