Wherever you stand on the shareholder vs. stakeholder capitalism debate, there is one thing everyone can probably agree on: The idea that corporate America is built on shareholder primacy is largely a myth. The most powerful stakeholder in many U.S. listed companies is the CEO and chairman, followed by the board, and their interests often trump those of others when conflicts arise.
The post What Exxon and Elon tell us about the ‘myth of the shareholder franchise’ first appeared on Interfaith Center on Corporate Responsibility.