I know the board has some fiduciary duty, but can a company put some guardrails on it when they go public, like saying the environment will always come first, or employees or customers or something?
I know the board has some fiduciary duty, but can a company put some guardrails on it when they go public, like saying the environment will always come first, or employees or customers or something?
They could, they just don’t, especially not when doing an IPO. Any company that claims this is often using a legal loophole for some reason or another. The Pantagonia dude “giving away” his 3 billion dollar business to charity was to avoid hundreds of millions in taxes and to gift it all to their children as inheritance.
Companies doing an IPO are not public companies (yet)