In addition to that, companies want CEOs to take some level of risk to grow the company, And to take the fall when needed for bad decisions / press / accidents and incidents. The golden parachute, as is my understanding, is an all but explicit pay to take responsibility and be the fall guy / resign with many a hollow sounding apology letter when and as needed from shareholder perspective (which may not overlap from our own perspective on when that would be needed or appropriate).
Plus everything op said about capitalism and market.
I keep seeing "responsibility" brought up but what responsibility do you mean? I have never seen a CEO suffering unpleasant consequences of their own failures. It's always a golden parachute and failing upwards for these people.
Plus everything op said about capitalism and market.