http://www.todaysworkplace.org/2008/09/09/ceo%e2%80%99s-home-isn%e2%80%99t-where-your-heart-is/ Sun, 05 Feb 2012 04:46:42 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.todaysworkplace.org/2008/09/09/ceo%e2%80%99s-home-isn%e2%80%99t-where-your-heart-is/comment-page-1/#comment-106 Gloria Wed, 10 Sep 2008 03:28:04 +0000 http://www.todaysworkplace.org/?p=708#comment-106 It's ridiculous that companies pay such a premium for star CEOs when there are so many smart MBA-holding extremely senior executives chomping at the bit for a chance to run a company. Given the uneven track record of "proven" CEOs, letting such people have a shot would seem to be well worth the risk since they would cost so much less. Why don't they get the chance? Is it because boards are so afflicted with cronyism that they are no longer able to make fiscally responsible decisions? And what can shareholders do to make boards more accountable? It's a crime that our society rewards even low-performing executives enough for several lifetimes while teachers barely get by. Could public policy have a role in fixing this gross imbalance, or is that too Bolshie? It’s ridiculous that companies pay such a premium for star CEOs when there are so many smart MBA-holding extremely senior executives chomping at the bit for a chance to run a company. Given the uneven track record of “proven” CEOs, letting such people have a shot would seem to be well worth the risk since they would cost so much less. Why don’t they get the chance? Is it because boards are so afflicted with cronyism that they are no longer able to make fiscally responsible decisions? And what can shareholders do to make boards more accountable? It’s a crime that our society rewards even low-performing executives enough for several lifetimes while teachers barely get by. Could public policy have a role in fixing this gross imbalance, or is that too Bolshie?

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