If they're serious about decreasing the importance of shareholder value, then they'll re-design executive and management compensation to be tied less to the company stock price.
It may be that we can't, and therefore stock price is a bad metric focus on.
1. over what timescale? 2. at what level of risk?
As soon as they are incorporated, it's obvious that firms have both more leeway and more responsibility to take care of a wider range of stakeholders.