• wellnowletssee
    link
    fedilink
    English
    arrow-up
    9
    ·
    1 year ago

    I am quite sure this is a legal issue. If they admit the mistake, probably customers in many countries would be allowed a free replacement or refund. And then shareholders would sue the company because it is mandatory to work on maximising profit.

    • wth
      link
      fedilink
      English
      arrow-up
      2
      ·
      1 year ago

      Sad, but true. If a CEO is not maximising profit, then the shareholders can sue, and the board (who represent the shareholders) can replace the CEO.

      I wish this structure had a longer term view so that a CEO can also do what’s right - such as make decisions that might lose money now, but have a greater long term value (where value is not only defined by share price, but also things like goodwill, reputation etc).