3 ms·

It's always insane to hear about CEOs saying that they take full responsibility, but never resign, donate their money to keep employees around, or anything of t

It's always insane to hear about CEOs saying that they take full responsibility, but never resign, donate their money to keep employees around, or anything of the like.

asdff 4y ago
The CEO is ultimately following the direction of the board though, right? That kind of makes it the board's responsibility. The CEO is just the public whipping boy who goes on TV and is stuck making keynotes.
- sbuk 4y ago
  It was Cook’s suggestion to the board. From the proxy statement: “The Compensation Committee evaluates and makes compensation decisions prior to the start of each fiscal year. The results of the 2022 Say on Pay advisory vote led to broader shareholder engagement on executive compensation in 2022 of approximately 53% of institutional shares held. The Compensation Committee balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received.”
midoridensha 4y ago
It's the corporate equivalent of "thoughts and prayers".
- progbits 4y ago
  Actually worse because while both do jack shit, with "thoughts and prayers" there is usually at least a sincere motivation behind it.
  - jsjohnst 4y ago
    > with "thoughts and prayers" there is usually at least a sincere motivation behind it Not from my pov. It’s extremely hollow and insincere from what I’ve seen time and again.
bushbaba 4y ago
Here is one such example. Albiet not from the latest round of layoffs, and occuring a few years ago https://www.yahoo.com/entertainment/linkedins-ceo-gives-14-million-234032130.html https://www.yahoo.com/entertainment/linkedins-ceo-gives-14-m...
- azinman2 4y ago
  I’m waiting for Zuckerberg and Pichai to say bye bye themselves or keep staff and pay them with their salary + bonuses because they took “full responsibility.” It’ll probably be a very, very long wait.

It's always insane to hear about CEOs saying that they take full responsibility, but never resign, donate their money to keep employees around, or anything of the like.

asdff 4y ago

The CEO is ultimately following the direction of the board though, right? That kind of makes it the board's responsibility. The CEO is just the public whipping boy who goes on TV and is stuck making keynotes.

sbuk 4y ago
It was Cook’s suggestion to the board. From the proxy statement: “The Compensation Committee evaluates and makes compensation decisions prior to the start of each fiscal year. The results of the 2022 Say on Pay advisory vote led to broader shareholder engagement on executive compensation in 2022 of approximately 53% of institutional shares held. The Compensation Committee balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received.”

midoridensha 4y ago

It's the corporate equivalent of "thoughts and prayers".

progbits 4y ago
Actually worse because while both do jack shit, with "thoughts and prayers" there is usually at least a sincere motivation behind it.
- jsjohnst 4y ago
  > with "thoughts and prayers" there is usually at least a sincere motivation behind it Not from my pov. It’s extremely hollow and insincere from what I’ve seen time and again.

bushbaba 4y ago

Here is one such example. Albiet not from the latest round of layoffs, and occuring a few years ago https://www.yahoo.com/entertainment/linkedins-ceo-gives-14-million-234032130.html https://www.yahoo.com/entertainment/linkedins-ceo-gives-14-m...

azinman2 4y ago
I’m waiting for Zuckerberg and Pichai to say bye bye themselves or keep staff and pay them with their salary + bonuses because they took “full responsibility.” It’ll probably be a very, very long wait.