This is a nice idea but the problem isn't the individuals in the system but the system itself. As long as shareholder value/profit is the only factor companies consider this is the end result you will get.
Management is just making decisions based on what the companies value and companies are just valuing what their shareholders value which is more money for the shareholders.
The best way to fix it would be to reform the stock market system so that companies aren't beholden to uninvolved third parties looking to make a quick buck. Only active employees should own stock in companies and sit on company boards.
This would also require reforming the retirement system so retirement money isn't just dumped into the stock market. It needs to instead go somewhere safe and just sit. Retirement funds being in the stock market creates a huge inflationary feedback loop by demanding constant increases in profits which cause companies to raise prices which causes retirement funds to need to be bigger which causes them to demand more profit increases.
I'm not opposed to stock market reforms, I'm sure there's good that could be done there. Even with today's stock market setup and companies' fiduciary obligations, if a company could be meaningfully financially by legal actions they would think twice.
Take CrowdStrike for example. If the company and its leadership wasn't so well shielded from financial and legal liability they likely wouldn't have had a process that allowed rolling out an untested update to the entire world at once. Instead, they have a CEO that did effectively the same thing at McAfee before allowing it at CrowdStrike and the company will likely get little more than a financial slap of the wrist.
Would it solve everything? Absolutely not, and other actions like changes to the stock market could help. But it surely would make a difference if leadership and companies knew they could actually be ruined if they are provably negligent or culpable in damages caused.
Management is just making decisions based on what the companies value and companies are just valuing what their shareholders value which is more money for the shareholders.
The best way to fix it would be to reform the stock market system so that companies aren't beholden to uninvolved third parties looking to make a quick buck. Only active employees should own stock in companies and sit on company boards.
This would also require reforming the retirement system so retirement money isn't just dumped into the stock market. It needs to instead go somewhere safe and just sit. Retirement funds being in the stock market creates a huge inflationary feedback loop by demanding constant increases in profits which cause companies to raise prices which causes retirement funds to need to be bigger which causes them to demand more profit increases.