So just bring in another CEO just for the bankruptcy. Currently that's not an uncommon practice in the US. Of course this new CEO would have to be a one-use fall guy with somebody else actually doing the job...
> If you prove yourself unable use that privilege responsibly
Good luck determining whose actually to blame and who is innocent... at the end of the days only unlucky small to medium business owners who can't afford expensive lawyers or consultants will suffer from such a policy.
Because you can just hire the CEO to take the blame and continue running the company from another position. Unlike with lawyers, engineers and auditors this arrangement would be much hard to prove.
Also CEO are liable when they engage in criminal behavior just like everyone else.
And where are talking about auditors there are very specific and procedures which define they duties and responsibilities. How could you replicate that for CEOs?
> If you prove yourself unable use that privilege responsibly
Good luck determining whose actually to blame and who is innocent... at the end of the days only unlucky small to medium business owners who can't afford expensive lawyers or consultants will suffer from such a policy.