I heard a story from a former employee of Motorola (Remember Motorola?). It appears the the "forward thinking" board of directors decided to hire a new CEO, he was giving a mandate, if he was able to increase their profitability to a certain number withing a year, he was to receive a 100 million bonus.
He did it, how? Simply he fire 50% of the employees, the profits went up because the employees expenses went way down. He left the company, then the board of directors found out that, because so many employees were fired, the company no longer could function and produce and provided the services they were supposed to.
Motorola had no other choice than to sell itself to a Chinese company (Lenovo). That was the end of it.
Most CEOs only care for themselves making big $$$$ and could not care less about the future of the company they run.