There are so many things wrong with just using market cap as a proxy for success. A better measure (if you want to use equity prices) would be change in share p

There are so many things wrong with just using market cap as a proxy for success. A better measure (if you want to use equity prices) would be change in share price during the tenure of the CEO relative to their industry peer group. I think that's also the basis for most CEO compensations. Market caps change based on discount rates, time in the economic cycle, financial structure of the company (debt vs equity), share buyback programs, equity offerings, etc, etc.