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by phil21 3289 days ago
> Even if those legal means go against everything you stand for, you have to pursue them because you have a fiduciary duty.

This is not true, and never has been even a little bit true (in the US). It's a commonly misquoted trope.

Assuming your company happens to be public (the only way this matters) - you still can do whatever you like as controlling CEO short of outright fraud or negligence. If you decide to switch your Fortune 500 company to it's sole goal being charity - you could definitely do that without going to jail or being liable for anything.

You might lose your job though.

If you own a private company you started yourself and own the equity? You can do everything up to and including burning the building down.

2 comments

> You might lose your job though.

That's what I was trying to get at. I didn't mean to make it sound like you'd go to jail.

Burning down a building that you actually for-real own might not be illegal, but be careful what you tell your insurer. The fire marshall might be annoyed as well, so warn him first. I wonder if the EPA would have questions as well...