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The Irrational Quest For Charismatic CEOs
from the who-needs-'em? dept
Following up on the story posted earlier about the CEO of Colgate comes this interview with the author of Searching for a Corporate Savior: The Irrational Quest for Charismatic CEOs, where he says that many of the assumptions companies make in finding a CEO are wrong. A lot of it is due to the rise in control of institutional investors who like to push out a CEO as soon as the stock starts to drop - and they never want someone from inside the company, even if there are qualified candidates. So, they've created this myth that there's a very limited pool of qualified CEO candidates (which of course, those candidates do nothing to dispel), driving up the prices on CEO compensation, and doing little to actually look at the core problems that the companies are facing.
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