Who should suffer from a CEO's mistakes?

Today Pfizer announced that 10,000 people would be laid off. Motorola announced that it would lay off 3,500. However, I have still to see an announcement that because a CEO allowed the hiring of 10,000 more people than was needed, who now have to be fired, the CEO will be joining them in the unemployment lines. Not only are the rewards often out of proportion to the effort, but so are the penalties.