this post was submitted on 04 Sep 2024
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CEOs have very little to do with the failure or success of most large companies. If they work very hard they can pull a company out of a death spiral, or start it down one, but failure or success takes years if not decades of steady improvement or decline. All the examples of "failures" given in the article are terrible and don't demonstrate at all that those CEOs were bad.
One of the worst problems with businesses in the US currently is this culture of fetishizing CEOs. They're paid far too much for what they actually bring to companies, and people grossly exaggerate how much of an impact CEOs have on companies. If you want proof of his just take a look at literally any company Elon Musk is a CEO of. The fact that none of those companies (particularly Twitter) have filed for bankruptcy yet shows exactly how little a truly terrible CEO actually impacts things.
Not true. All they need to do is bring in "their own" people and put them on a few key positions. These Nepo babies bring with them the wrong culture and manage a company to death.
The best people see these assholes coming a mile away and jump ship. They do not get replaced (cost savings on these expensive people is huge) or get replaced by new management with sub standard hires that meet their "yes man" corporate lingo buzzword bullshit standard.
This causes the next wave of talent to leave, the death spiral is in full swing.
All this can happen in a few months. The effects might take a while to show, but I guarantee, it is hard to recover from.
Yep. All they do is meetings and hand shaking. The real work occurs several steps below them.