Another way to do it: Deny them every step of the ladder they fucked up.
And they'd need to restart from a regular position equal to their experience (e.g. CEO -> Manager of department or something equal to the highest non C-suite managerial job).
If they fuck it up, they have to be fired, are not elligible to be hired for >10 years at the same company and are only possible to be employed at a position lower to their current one.
Optionally to add: 10% penalty of their gross worth (Including every asset in their position or by a direct proxy).