[Turing_Machine]

"Your point isn't without merit."

His point is entirely without merit. Far from "executives getting rich", the investors in the old Hostess lost all of their capital.

[angry_octet]

The investors may have lost their money (aka the business was overvalued and there was a correction they did not foresee) but that does not mean executives lost out. Executives were likely remunerated well until the end, even if their negotiation strategy was poor and they were against spending on R&D and innovation.