But, by summing your post and the GP, one can easily hypothesize that the causal relation goes the other way around: sinking companies hire expensive CEOs to tr

But, by summing your post and the GP, one can easily hypothesize that the causal relation goes the other way around: sinking companies hire expensive CEOs to try and save themselves. Often that doesn't succeed, because the company was sinking for reasons deeper than poor leadership. The real question is: do success rates improve for sinking companies that hire a expensive CEO versus those that keep their existing leadership or hire no-name CEOs?