The CEOs got to keep their money because the investors made poor choices; the investors could have negotiated a clawback in the compensation packages, for example. But in some sense, you might even say that the CEOs gave the investors exactly what they wanted. If the investors had wanted a more conservative corporate strategy, they could have always pulled their money out and invested in Berkshire Hathaway, or they could have uprooted management. Management set out on a strategy that didn't turn out well, but they weren't hiding anything from their investors.
It gets a little blurry at high levels, but remember that at the end of the day, the CEO is just an employee. The owners are ultimately responsible for the company.