It's a meritocracy in the sense that boards want to hire executives with prior experience running large companies or large divisions. How many such people are a

It's a meritocracy in the sense that boards want to hire executives with prior experience running large companies or large divisions. How many such people are available for hire and didn't run their last company into the ground? It's a tiny number. On the other hand, I worked for a president who was brought in to run a brand new division, ran it into the ground within a few years, was forced out of the company under rumors of financial improprieties, and was recently announced as CEO of another company. So, who knows? Maybe boards are just stupid.