mysql_install_db.exe -d='datafolder' --service='servicename' adds the required permissions only to the data folder

mysql_install_db.exe -d='datafolder' --service='servicename' adds the required permissions only to the data folder causing the following error trying to launch the service with the "sc start servicename" command:
[SC] StartService FAILED 5:
Access is denied.

Note that the mysql_install_db command automatically finds the mysqld binary that lies in the same folder and sets the service launch parameters, so it's my expectation that the permissions are set also for the mysqld binary and the share folder.

The solution is to manually add the required permissions also to the mysqld binary.