CEOs of nearly 200 companies just said shareholder value no longer their main objective

This isn’t shocking at all

It’s why companies like Gillette and Dicks openly pissed on their customer base

If there's a complete list, I'd like to see it so I can sell all of that stock.

When those idiots have no investment stake, I bet the tune changes.

So this is one of the reasons why I recommended banning the use of stock as a form of compensation for employees and contractors of corporations.

As far as WHY boards don't act...

The Significance of Board Interlocks for Corporate Governance

"Boards of directors of large American corporations are marked by a surprising degree of overlap in their memberships. The median Fortune 500 firm interlocked (shared directors) with seven other large firms during the mid-1980s, although this prevalence dropped slightly by the mid-1990s. In contrast to Japan, interlocks among American firms are rarely linked to banking relationships or vertical (buyer-supplier) relationships; rather, they reflect the embeddedness of corporate governance in social structures (e.g., friendship or other ties). Recent empirical research has linked interlocks to almost every important aspect of corporate governance, from executive compensation to strategies for takeovers and defending against takeovers. These findings suggest that proposals for reforming boards of directors through changing incentive structures (e.g., paying directors in equity rather than cash) are likely to have little effect because they misconstrue the role of the board as a social institution."

LINK

You need to understand that the political link between business and constitutional/christian patriots is breaking. The left has co-opted these institutions and prefers to push things in the direction of monopoly and oligopoly as a first step to moving to a Chinese-style state capitalism model.

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The re-imagined idea of a corporation drops the age-old notion that corporations function first and formest to serve their shareholders and maximize profits. Rather, making sure that CEO's, COOs, CFOs, receive obscene salaries, bonuses, and stock options -- even if it means bankrupting the corporations -- is of utmost importance to all public corporations. F*ck the shareholders. F*ck the workers. Hell, F*ck the corporation itself. As long as the brass can retire on their 150 foot yachts is all that matters.

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FIFThem!

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If there's a complete list, I'd like to see it so I can sell all of that stock.
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I don't believe all of that crowd put that statement out. For example, Jamie Dimon? No.

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This is why America is doomed to fail.

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“While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders,” said the statement, which signed by 181 CEOs. “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.”

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Generating long-term value for shareholders, who provide the capital that allows companies to invest, grow and innovate. We are committed to transparency and effective engagement with shareholders.

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Each of our stakeholders is essential. We commit to deliver value to all of them, for the future success of our companies, our communities and our country.

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How in hell do you get from those statements to "This is why America is doomed to fail"???

You didn't grasp the significance of the substitution of "stakeholder" for "shareholder" in that statement.

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That's grounds for removal.

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Except for one small detail . . . that really is not what was said. What was said was a deliberate shot across the bow of activist investors or the Martin Shkreli's out there who prioritize short-term stock run-up over long-term corporate health. Long term corporate health is in no way oppositional to shareholder value. Short-term stock manipulation often is.

Everyone of them is lying to sound PC. They are very much still only worried about their shareholders. They are just doing well enough to act like all of that other BS is important.

Corporatism is failing. What you’re seeing is the looming threat of Socialism, as a way to address the failures of corporatism, starting to get very very real. AOC plus 3 might be useful after all.