In many jurisdictions directors have a 'fiduciary duty' to protect shareholders' interests from harm. While this does not imply maximizing profits per se, it h

In many jurisdictions directors have a 'fiduciary duty' to protect shareholders' interests from harm. While this does not imply maximizing profits per se, it has to be closely related in general . And of course if shareholders are unhappy they will fire the directors. It seems that in Delaware directors have a closely-related duty: a duty of loyalty, which means "to look to the interests of the company and its other owners and not to their personal interests". [1] Of course, companies have boards in which shareholders actually tell directors what they consider is in their best interests. So I'd think that as long as directors act accordingly they are doing their job and duty. [1] https://en.wikipedia.org/wiki/Fiduciary https://en.wikipedia.org/wiki/Fiduciary