No, not fiduciary duty. One theoretical approach to corporate governance/management, but it's not a legal duty. A competing theory is guaranteeing the long-ter

No, not fiduciary duty. One theoretical approach to corporate governance/management, but it's not a legal duty. A competing theory is guaranteeing the long-term health of the company instead of short-term profits (current shareholder value). Another is being a good corporate citizen in society. These are usually all at least in a bit of tension. The reason shareholder value is often (almost always?) pushed at any large company is because it so often aligns with the boards' and managers' short-term goals, i.e., make lots and lots of money while the making is good. For a long time, and perhaps even still, Amazon has been held up as an example of a company that is not especially driven by the theory of maximizing shareholder value.