Louis-H. CampagnaLouis-H. Campagna

Hi, Jen.
In response to your question about the responsibility carried by the CEO. I’d say, it depends. If the Board insisted that the CEO abide by the Friedman doctrine and place profits for shareholders above all else, then within the bounderies of the law and of summary ethics, can the CEO be blamed fot doing jist that. The CEO’s entire incentive plan would have been built upon short term gain (next quarter) results rather than long term, sustainable, values-aligned results.
So the CEO’s responsibility — though he obviously bears some — is limited to the extent of the agent role this person played, accountable to the principal.


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