this post was submitted on 19 Jan 2024
860 points (97.8% liked)

Work Reform

10040 readers
1067 users here now

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

Our Goals

founded 1 year ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 3 points 10 months ago* (last edited 10 months ago)

Fiduciary duty is real, in many jurisdictions at least. It means that the executives of a company are required to act in the best interest of the shareholders. In 99% of the cases what shareholders want is maximum profit.

But really, in almost every case where someone is found to be guilty of breaching this duty, it's because they actually actively did something fraudulent. Otherwise it's much easier for the shareholders or board to just fire the problematic people and get new ones. It's not like being incompetent is a crime.

for source you can look at eg. https://en.wikipedia.org/wiki/Fiduciary