While I don't agree with PAF, I think this part of your post is not entirely correct.
If you foul up, you will never work again and become a figure of ignominy for the rest of your sorry life.
In some other jobs when you foul up you are no longer alive.So to argue that as a case for huge remuneration packages is not exactly accurate.
There are also examples of board members causing significant cost blow outs if not huge losses and they go on and get jobs on other boards as if nothing ever happened.