How to tell the star CEO from the ‘disa-star’ CEO
Every board, across all sectors, has as its most important job the selection of the CEO, hopefully a very good or exceptional CEO as they’re the stars you want, they’re the ones who produce current and future success for the entity.
However, one of life’s little ironies tells us that often it’s the troubled organisations that have the ‘star’ CEOs and in my time I’ve seen too many examples of so-called star CEOs, overflowing with charisma, who have driven the entity into the ground.
They’re either megalomaniacs or they push their own agenda which ends up failing or they’re profligate in spending money.
So how do you know a real star from a disa-star?
Too many CEOs a sure sign that something’s rotten
It was Marcellus in Shakespeare’s ‘Hamlet’ who famously said ‘something is rotten in the state of Denmark’ and there’s a reason why he said ‘state of Denmark’ rather than just Denmark; he’s emphasising that all is not well in the very top echelons of the political hierarchy.
Enough of my recollections of my school set works but this is not idle rambling… there’s a point to it.
And it’s this…in the world of corporate governance, it’s true to say that when there has been CEO churn, there’s something foul and unpleasant at the top of the organisation, in its boardroom.