Holding people accountable implies a moral decision. These matters are purely pragmatic however: a CEO can be terrible but as long as the short term, risk adj

Holding people accountable implies a moral decision. These matters are purely pragmatic however: a CEO can be terrible but as long as the short term, risk adjusted cost of replacing him is more than the same number for keeping him, he stays. This is why no CEO every lets themselves become replaceable. Or if they do they rapidly stop being a CEO...