this post was submitted on 09 Oct 2023
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Unity CEO John Riccitiello is retiring, effective immediately (arstechnica.com)
submitted 2 years ago by fart_pickle@lemmy.world to c/technology@lemmy.world
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John Riccitiello, CEO of Unity, the company whose 3D game engine had recently seen backlash from developers over proposed fee structures, will retire as CEO, president, and board chairman at the company, according to a press release issued late on a Monday afternoon, one many observe as a holiday.

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[–] ringwraithfish@kbin.social -1 points 2 years ago (2 children)

Pisses me off that CEOs never get fired for their bullshit and get to "retire" or "resign" like they didn't just make the most boneheaded decision that severely hurt the company.

There really needs to be some organizational structure where the CEOs have the power to make the decisions they make, but the employees have the power to punish and fire them when they do shit like this. No golden parachutes for them!

[–] Currens_felis@lemmy.ml 0 points 2 years ago (1 children)

CEOs are beholden to the shareholders, not the employees

[–] ringwraithfish@kbin.social -1 points 2 years ago

Yes, I understand that's the current structure. I'm saying there needs to be a new structure where CEOs can't make greedy decisions with impunity. Clearly the idea that the board is supposed to prevent that doesn't work because this story is all too common.

[–] lung@lemmy.world 0 points 2 years ago (1 children)

This is actually wrong. There's a near 100% chance that the decision was made by the board, and also the decision to remove the CEO. So we're talking about the fall guy, but being an insider, the fall guy will get a tidy sum for the dive

Then the CEO can be recycled to some other project, and a new CEO instated at Unity, so they can pivot or double down with no moral dilemma. In reality, the board was there all along and it's all a big PR game

[–] ringwraithfish@kbin.social -1 points 2 years ago

Ackshually!