They may not have to maximise profits but the shareholders will question every decision that doesn’t maximise profits so the result is the same.

If that were true, we wouldn’t see the obscene salaries of C-suite level execs skyrocket… That money cuts into the profits as well, you know?

They are ok squeezing their workers while giving themselves the sweet life on the company’s dime

That’s why activist investors that push companies to more ethical behaviour are important.

This is a fairy tale force, like Santa or the biggie man. You’ll never get ethical behavior from profit seeking entities