A CEO’s competency is measured by how they raise value for the shareholders. This means increasing the rate of exploitation; getting more out of the workers while giving them less.
Shareholders elect a CEO based on expected effect on dividends and share prices (for spherical capitalists in a vacuum, in reality class consciousness, nepotism, etc play into it)
Profit is a function of revenue minus expenses (such as wages); to increase this, you can either get more out of the labor you’re buying or buy that labor at a lower price.
I’m sure you might be able to find a “better” CEO who fails to prioritize profit at the expense of the owners, but capitalists who only pick losers get out competed by more efficient ones.
Nobody is complaining about the concept of leadership, it’s that the CEO is responsible to the shareholders, not the workers.
Nor to the customers
Without a competent CEO there’s no workers to be responsible of
You’re missing the point.
A CEO’s competency is measured by how they raise value for the shareholders. This means increasing the rate of exploitation; getting more out of the workers while giving them less.
That is extremely naive and narrow view of the job of a CEO.
Which part are you having trouble with?
Shareholders elect a CEO based on expected effect on dividends and share prices (for spherical capitalists in a vacuum, in reality class consciousness, nepotism, etc play into it)
Profit is a function of revenue minus expenses (such as wages); to increase this, you can either get more out of the labor you’re buying or buy that labor at a lower price.
I’m sure you might be able to find a “better” CEO who fails to prioritize profit at the expense of the owners, but capitalists who only pick losers get out competed by more efficient ones.