Apparently, it does happen: https://tempusfugitlaw.com/real-life-breach-of-fiduciary-duty-case-examples-outcomes/

Particularly of note is the descision around AA's ESG investments.

Yes, that's correct, it's not an issue of legal liability, it's an issue of their interests converging. the CEO holds stock, he is a stock holder, and the execs are stock holders, they don't need any motivation to put the stocks first, they know where their interests converge, and precious few executives make more money in salary than they take away in stocks, in practicality, every corporation that offers stocks is stock focused, the is why we had daily and weekly meetings in retail stores on the absolute bottom of the ladder to talk primarily about stock prices, and why the main information displayed on price guns is the sale price/cost/ current quarter sales/last quarter sales/and last year to date quarter sales, and the sales numbers daily/monthly/quarterly are what you see posted around the office, it's always about beating last year to date numbers, and last quarter's numbers, and what always drove me fucking nuts is that the store made TWENTY TWO MILLION FUCKING DOLLARS in profit, but "your store is failing because you didn't make twenty two million and one penny. they don't care that we were making money hand over fist, because that's not the game. that game is dead. don't worry. they'll still cut payroll, and you can't like... spend that money or keep that money, but it doesn't matter. it only maters if it makes the stocks move. it's stocks all the way down. because that's where the interests converge. also as a side note, golden parachutes are an internal security measure against hostile take over, it means if someone does successfully raid your business and performs a hostile takeover, they have to pay your executives staff when they fire them and loot the company more money than the company could be looted for. it's never actually intended to be paid out.