> The board of a corporation is tasked with protecting the shareholders' investments by overseeing the selection of a CEO and corporate structural issues. And that's it.
Right. So they have a duty to select a CEO who doesn't enable the unnecessary waste of corporate money on optional taxes.
No, that's exactly wrong. They don't have a duty to minimize waste, otherwise they would have a duty to not award golden parachutes or large executive compensation packages or even to pay themselves more than a few hundred bucks a year.
Right. So they have a duty to select a CEO who doesn't enable the unnecessary waste of corporate money on optional taxes.