@mj873,I don't know how this has escalated so far from my simple response to @sloppy61 that directors demand more than "average wage" because of the risk they are exposed to.
"Do directors have more responsibility than..." well in a way yes. Directors are responsible for both the staff and the customers, not just the customers.
.https://www.aicd.com.au/regulatory-compliance/work-health-and-safety-act/reporting/work-health-and-safety.html
"Positive obligation" means they can't simply discharge their responsibility to staff and workers. They must ensure the health and safety of staff and customers.
I believe the burden of proof is now with the Defendant.
https://www.claytonutz.com/insights/2022/june/reverse-onus-whs-laws-promised-by-new-labor-government
Final Report by the Hon Robert McDougall KC, Independent Reviewer, 15 December 2023
Then there are the fiscal obligations to shareholders in the case of a public company. This is a situation that requires directors to be on top of their game at all times or risk prosecution.
Many years ago I had to give evidence in reasonably minor workplace accident and I assure you I am glad I was only junior at the time. It is nothing short of aharrowing and the laws and obligations through to the top ranks has only got more onerous.I don't have the inclination or motivation to expose myself through that to be frank.
"Most directors are over paid for what they do. But, teachers and nurses etc don't create wealth or generate money, people only appreciate them in words, not financially" - The matter of whether the work done by directors is more important to society that that of teachers and police is philosophical. If you asked me whether someone who's made millions or billions in banking, or software, was worth more to society than a farmer, policeman, nurse then we'd be in fierce agreement I suspect.
If we think the directors of a company are grossly overpaid we have the choice to sell, and yes that may result in us losing money. I guess that is our role as investors/punters in following changes from when we invested. I have plenty of duds that's for sure.
Most of us have a very unrealistic view of how long things take to go through R&D. I work in infrastructure - Our projects take years in development for various reasons and not much we do is much different from what we've done before so I can appreciate how long it takes to develop somethig novel. It can be easy to blame the directors for things taking longer than we expect as we monitor shareprices daily or more.
When you say "Not saying you are like that @Coit but unfortunately, if you are one of the good guys.....your outnumbered!" refer to the last line of my response to @sloppy61 - I agree with your opinion.
