>has a fiduciary responsibility to maximize shareholder value
Even that is arguably not true. The only real responsibility of a director is to not act in his or her own self interest to the detriment of the company.
I guess my first point would be that I said, "fiduciary responsibility" not legal obligation.
I really loved this quote at the end... "the idea that good decisions are the product of orderly processes – is more alive than ever in public affairs. ...There is not, and never will be, such a science. Our objectives are typically imprecise, multifaceted and change as we progress towards them – and properly so. Our decisions depend on the responses of others, and on what we anticipate these responses will be. The world is complex and imperfectly known, and this will remain true however much we analyse it."
I guess my first point would be that I said, "fiduciary responsibility" not legal obligation.
I really loved this quote at the end... "the idea that good decisions are the product of orderly processes – is more alive than ever in public affairs. ...There is not, and never will be, such a science. Our objectives are typically imprecise, multifaceted and change as we progress towards them – and properly so. Our decisions depend on the responses of others, and on what we anticipate these responses will be. The world is complex and imperfectly known, and this will remain true however much we analyse it."