To: RoosterRedux
I disagree. Like many companies Target has made the mistake of making their CEO the Chairman of the Board of Directors. The CEO is just an employee of the shareholders, and the shareholders are legally bound to represent the interests of the shareholders (i.e. they are the ones who hire an fire CEOs). Making the CEO his own boss is a gigantic and inexcusable conflict of interest that is harmful to the shareholder interests and in my opinion should be illegal.
Bottom line: CEOs who are also Chairman of the Board are virtually unfreeable no matter what they do. They go when they want to and not before.
10 posted on
06/07/2023 7:39:19 AM PDT by
pepsi_junkie
("We want no Gestapo or Secret Police. F. B. I. is tending in that direction." - Harry S Truman)
To: RoosterRedux
The CEO is just an employee of the shareholders, and the shareholders Board of directors is legally bound to represent the interests of the shareholders Fixing a kinda important typo
12 posted on
06/07/2023 7:41:29 AM PDT by
pepsi_junkie
("We want no Gestapo or Secret Police. F. B. I. is tending in that direction." - Harry S Truman)
To: pepsi_junkie
You do realize that when the shareholders sue a company for financial malfeasance (instead of suing the board and managers as individuals), they are basically suing themselves?
13 posted on
06/07/2023 7:43:02 AM PDT by
RoosterRedux
(See my FR homepage for a link to the entire Bible narrated by David Suchet on youtube. FREE!)
To: pepsi_junkie
I just reread your comment. I don't disagree (I don't think I do anyway) about the CEO not being Board Chairman.
That said, the CEO is usually the Chairman of the Board.
16 posted on
06/07/2023 7:50:39 AM PDT by
RoosterRedux
(See my FR homepage for a link to the entire Bible narrated by David Suchet on youtube. FREE!)
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