The real solution for better aligning corporate incentives with long term investing is to reform the public company board structure. The problem is current public boards are controlled by insiders, both C suite execs and entrenched board members, which leads to insular self dealing. Every CEO over time pollutes the board with their cronies to maintain their power base.

The solution is simple, allow shareholders to propose board slates. That guts the power of insiders to control the company, but the SEC has never had cajones to make it happen.