Aren't you obligated to make the highest returns for shareholders? In that case, wouldn't performing an action that slows down the ability of a company to innovate break that promise?
Actually no. As recently as Burwell v Hobby Lobby, the Supreme Court said:
"Modern corporate law does not require for-profit corporations to pursue profit at the expense of everything else, and many do not."
For example, if you're trying to maximize cash on hand in the very short term, you simply stop paying your bills and declare bankruptcy when creditors attack. But if your goals are further out, this becomes the exact wrong strategy. Whatever your goal may be, you need a time frame to determine what is and isn't a good use of resources in realizing it.
Conversely, anyone who says "maximize shareholder value" without specifying a time frame is either a fool or a grifter. You can imagine how well things go when these types get together and "agree" on something this dangerously unbounded as a fundamental operating principle.