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by QuesnayJr
2439 days ago
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They're really not. In court, it is sufficient to be able to argue that your actions are in the long-term interest of the company. In practice, CEOs are hard to replace, and it is easy for them to pack the board. Lots of companies have dual class shares so that a group of insiders can run the company however they see fit. Anyway, even if it were true in practice, this is entirely the result of laws and court decisions. Governments could change it with the stroke of a pen. |
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