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The shareholders absorb the profits, as well. If a CEO messes up at his job in a purely business sense and the shareholders lose money, that's ok, right? I m
by jbooth 12y ago
The shareholders absorb the profits, as well.
If a CEO messes up at his job in a purely business sense and the shareholders lose money, that's ok, right? I mean it's the whole idea of having shareholders.
I'd include "broke federal laws and exposed the company to serious financial liability" in the same (or a worse) category.
- nickff 12y agoOne has an especially significant right to representation when they are subject to an adverse judgement by a court. This is not about whether the CxO has done something wrong, it is about who should be held responsible, and what process will lead to a just result. In addition, if someone "broke federal laws and exposed the company to serious financial liability", the corporation(s) should be subject to civil judgement, and the individual(s) should be subject to civil and criminal penalties. To be clear, I do not object to adverse judgments, I only object to unjust procedures.