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Such a contract would attract charlatains -- guys like Bernie Madoff. And then, when they found a data breech, they'd pull every trick to keep it hidden. No d
by dogruck 9y ago
Such a contract would attract charlatains -- guys like Bernie Madoff. And then, when they found a data breech, they'd pull every trick to keep it hidden.
No doubt that CEOs should be held responsible. And here the board would say, yes, that's why we fired him.
- Aaargh20318 9y ago> Such a contract would attract charlatains No it wouldn't. The current contracts do that. The CEO can basically take huge risks with the company at zero personal risk. If it pans out, he gets a huge bonus, if it fails he bails out with a huge severance package and no personal consequences. It's the same mechanism that got us into the financial crisis. Executives have every reason to take huge risks and none to play it safe.