Aotearoa / New Zealand

There is another way to deal with this kind of stuff, fines may be effective. But if you want to ensure that this kid of thing doesn't happen. Look to the health and safety regulations.

Making the board / CEO criminally responsible, will achieve the the thing you want, rather than the decision makers paying out other peoples money (shareholders) which doesn't hurt them directly, make them personally responsible.

If they are found to be negligent, then it follows that they go to jail....watch how quickly this kind of thing changes.

Also make it not beholden to them continuing to work at the company they fucked up at, so if this happened and was only discovered years later, the CEO who has moved on to fuck up at another company can still be held liable.