Should my loyalty be with my company in general or to the person that hired me?

1. The reason I was hired was my director’s strong push to keep me. Should I let her continue to neglect her responsibilities just because I owe her some kind of thanks? Should my loyalty be with my company in general or to the person that hired me?

2. Even after one of my co-workers spoke to our director about her wasteful spending, she continued to do so. Should my co-worker have gone above her to let her boss know what was going on?

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