Jan 29 2009
Where’s the CEO Accountability?
If we eliminated every single CEO position in the United States economy I doubt if we would be giving up much in efficiency or productivity.
It may be unfair to compare corporate CEOs to head football coaches, but their tenure is supposed to be based on performance, and that actually means performance by their corporation or team.
We often see head coaches who do virtually nothing; they have delegated it all to assistants. Yet the Head Coach still draws the big bucks. Corporate CEO’s are often in their positions based on reputation as well as previous, or proven, performance. They are often hired based on their “image” as a winner, much like a head football coach.
- Big reputations for coaches draw big players and big audiences with higher ticket pricing.
- Big reputations for CEOs draw big investors, big customer orders, and big stock market gains.
I think it is often just a big hot air balloon, both in football and in the corporate world. The boost that a new coach or CEO provides is almost always temporary. The insiders quickly take advantage of the temporary boost and “get theirs while the gettin is good.”
The performance of the corporate CEOs that have been in the news recently has been shameful. They should all be fired. Talk about an old boy network. Boards of Directors, CEOs, corporate officers are all made of the same stuff, all went to the same universities, belong to the same fraternities, marry into the same money. It’s disgusting.
