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> > Your team has a fiduciary duty to maximize shareholder value > That’s actually not true. @woofie11, you should internalise this. What the board has a dut
by TheSpiceIsLife 6y ago
> > Your team has a fiduciary duty to maximize shareholder value
> That’s actually not true.
@woofie11, you should internalise this.
What the board has a duty to do is enact the desires of shareholders as they have made those desires clear. If the shareholders want to sacrifice profitability for some other goal, that's fine, normal, expected, and ordinary.
There is no fiduciary duty to maximise shareholder value.
Obviously negligence, fraud, and other possibly criminal or immoral behaviour that reduces or ruins shareholder value can certainly be a problem, but that's a separate issue.