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A comment on No CEO is Worth Their Multi Million Dollar Paycheck. Except.... Parent comment

Re:No CEO is Worth Their Multi Million Dollar Paycheck. Exce... by MikeCapone on Monday August 29, 2011 @02:12PM (#2938163)
Even if he hires other people to do it, he is ultimately responsible for it and must know what he's doing, if only to hire the right people and fire them if they don't do the job. It's not something you can truly delegate and wash your hands off from.. Just like how the CEO is ultimately the real 'chief risk officer' in a company and can't delegate managing risk to someone else.
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Re:No CEO is Worth Their Multi Million Dollar Paycheck. Exce... by Hyena on Monday August 29, 2011 @02:34PM (#2938250)
I don't find this to be a meaningful reply. Hiring people is important, sure. So is maintaining cash flow. So is accounting. So is marketing. Etc.

But all these things are only important because. The CEO is the head of because; if that's not what he's actually head of, he's doing it wrong.

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Re:No CEO is Worth Their Multi Million Dollar Paycheck. Exce... by MikeCapone on Monday August 29, 2011 @02:38PM (#2938265)
I disagree. The whole point of a business is to use assets to get the best possible returns for shareholders. The CEO is the guy in charge of those assets, and another name for that is capital allocation. It's the top job on the list, basically. It's not just one more thing he does...
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Re:No CEO is Worth Their Multi Million Dollar Paycheck. Exce... by Hyena on Monday August 29, 2011 @02:49PM (#2938305)
I've already addressed this: http://news.ycombinator.com/item?id=2937832
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