[fndksksvdk]

Yes, executives can and do excercise personal judgement. But if their actions are unprofitable for long enough, shareholders will vote them out.

You're right that legally there's little way to enforce the intent of CEO actions, that doesn't mean shareholders would let a CEO that puts public good above profits keep his job. Gambles like buying NeXT are more acceptable because they might pay out.

[acdha]

> Yes, executives can and do excercise personal judgement. But if their actions are unprofitable for long enough, shareholders will vote them out.

None of which is a legal requirement as you falsely claimed.

This matters because that mythical legal requirement is commonly used to excuse bad behavior. That only works because people spread that lie.