>You still want to make payroll and can't just randomly fire people.

In the US you can.

>Also, if you own a failed company you're responsible for cleanup tasks for years afterward.

But we're talking about golden parachutes, where a CEO screws up the company and gets fired with a multi-million dollar raise. This is Hacker News, and the pro-business narrative is strong here, but in reality CEOs rarely suffer any meaningful risk or consequence for failure (unless it involves jail time, and even then they aren't doing hard time) they just wind up slightly less rich than when they succeed.

I don't care how good a CEO is, that isn't justifiable. Certainly not in a country where people can get laid off with an email and lose their access to healthcare on the whim of anyone above them in the power hierarchy.