Very related post/discussion I made (no link karma for it, as if reddit karma were worth anything): http://www.reddit.com/r/reddit.com/comments/f1l79/instead_of...

tl;dr: For fuck's sake, nail the responsibility to the CEO. If they don't like it, they can steer the company into the moral high road. Secondly, Yes, the CEO. They take credit for when the company does well, so let them take credit for when it does reprehensible things.