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A comment on Many Companies Aren’t Prepared to Replace Underperforming CEOs. Parent comment

Re:Many Companies Aren’t Prepared to Replace Underperforming... by jandrese on Friday November 04, 2022 @04:40PM (#33473442)
I think you are right that the skills to be a successful CEO are rare, but I think the main problem is that the hiring process for CEO is so incestual that the majority of the people who would be good for the job aren't even considered. Instead the applicant pool consists of "son of current CEO", "son of CEO's favorite politician", and several "CEO that is currently failing a different company". The applicant pool feels small because they never look beyond the boundaries of "billionaire families who go to the same country club".

There are a few CEOs that seem to truly make a difference, and maybe those would be worth the money, but for the most part companies are grossly overpaying for people who are mediocre to terrible at the job and will deploy the golden parachute in a couple of years to go fail at a different company.

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Re:Many Companies Aren’t Prepared to Replace Underperforming... by startupsfail on Friday November 04, 2022 @04:55PM (#33473610)
The CEOs that belong to the club (network) can draw on the resources available to that network. It is widely believed that this ability is more important than the technical skills. It used to be correct when e-mail, LinkedIn or Google were not a thing. Now this is simply a cargo cult.
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Re:Many Companies Aren’t Prepared to Replace Underperforming... by jandrese on Friday November 04, 2022 @05:00PM (#33473676)
That smells like rationalization to me. "No candidate outside of my personal circle of friends could possibly do this job because being in the circle is required to do the job."
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Re:Many Companies Aren’t Prepared to Replace Underperforming... by lenzm on Friday November 04, 2022 @06:02PM (#33474492)
More like self fulfilling prophecy. The clique preferentially favors doing business with each other causing their businesses to perform better.
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