In one case recently, the CEO, massive owner himself, simply sold the business one day to my surprise for what looked like peanuts.
Next quarter, come some industry news and poor results I thanked him.
For him, there was no point in loosing millions just to earn couple of years of salary.
As they say “don’t be gentle, it’s a rental” is the frame of mind when you have nothing to lose from poor performance but your salary is guaranteed. The incentive is to keep going to the end.