3 ms·
> corporate profit and personal profit The Amazon's board have a fiduciary duty not to enrich themselves at the expense of their shareholders. Amazon certainl
by chalst 13y ago
> corporate profit and personal profit
The Amazon's board have a fiduciary duty not to enrich themselves at the expense of their shareholders. Amazon certainly is not a non-profit.
- hackula1 13y agoIncentives tend trump all, especially in major grey territory like this.
- taybin 13y agoIt's not unheard of for a board to enrich themselves. I believe a lot of the salaries for boards and executives is nothing more than a looting of the company at the shareholders' and host country's expense.
- chalst 13y agoSalaries for the board is a special case, since it usually needs to be agreed by the shareholders at the AGM. This case isn't really covered by fiduciary duty, since it is not a case of the board acting as agents of the shareholders (it would be different if the pay committee actually falsified their report).
- pjc50 13y agoPeople keep saying this. All it really prevents against is the most blatant kind of theft from the company; it doesn't stop senior management awarding themselves salaries that are huge compared to any other worker.
- nmcfarl 13y agoAs I found your phrasing confusing, and to be clear for others, non-profit board-members also have a fiduciary duty to the stakeholders not to enrich themselves at the expense of the mission.