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by ClumsyPilot 1131 days ago
Facebook literally fired people they hired a week prior.

Why do you feel the urge to make excuses for managerial incompetence.

Like when you are a worker, they must be scruitinised to make sure they arent lazy or incompetent, but the day you get promoted to executive you gain godlike immunity from criticism
1 comments
drexlspivey 1130 days ago
It’s not up to you to decide if what the management did is right or wrong, it’s up to the shareholders. They own the company and they appoint the management. If they make bad decisions it’s up to them to replace them.
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ClumsyPilot 1130 days ago
Do they really do it?

In the past 40 years several FTSE 250 companies have collapsed, gone bancrupt or suffered some other disaster.

I can't name any example where shareholders replaced upper management before it was too late. Can you?

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drexlspivey 1130 days ago
They do it indirectly via the board of directors, they are the representatives of the shareholders (akin to a representative democracy). It is a common scenario for the shareholders to vote in a new board to replace the existing management.

https://en.wikipedia.org/wiki/Proxy_fight

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