A company is a group of people coming together for a purpose. Management can't destory the group in pursuit of their own values. A ship's captain can't risk the ship because of their own values.
They haven't even asked what the shareholders want. They don't think they need to, because they believe that everyone will naturally share their belief that money is their highest priority.
They have a duty to act in the best interest of the shareholder. Generally that means not having reduced revenue. This is what most people accept. If shareholders want them to do something different they can let them know.
I think this is the fundamental disagreement we have, and it's probably too big of a conversation for a comment thread. In my philosophy of determining "best interest", revenue is an important consideration, but not the only one and not the most important one. There is certainly no legal duty to increase revenue or stock price or anything like that.
Under which law? Plenty of corporate boards do things their shareholders don't like every day.