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Technically, a CEO doesn't have fiduciary duties. The board of directors does, and the CEO runs the company/reports to the board. I know what you mean, of cou
by 3am 15y ago
Technically, a CEO doesn't have fiduciary duties. The board of directors does, and the CEO runs the company/reports to the board. I know what you mean, of course.
- robotresearcher 15y agoInteresting, thanks for the correction. Do you know if this varies by jurisdiction, or is it pretty much universal?
- 3am 15y agoSorry, I don't know. I think that's the case for all public companies in the US, at least (I don't know if it applies to limited parterships, private corporations, s-corporations, etc). I searched to confirm CEOs were not necessarily fiduciaries before I posted, and I did see that officers could be fiduciaries (eg, for internally managed pension funds - though it didn't have to be the CEO).
- 3am 15y agoYou know what, beatle is right, I'm wrong. Not sure when or how I developed the misconception, but I'm sorry for speaking outside my area of expertise and blowing it.
- beatle 15y agoWrong. CEOs have fiduciary duties.