The CEO is the employee of the board, so the board may be moronic, but they also need someone they can trust deeply. That is why they aren't afraid to spend a l

The CEO is the employee of the board, so the board may be moronic, but they also need someone they can trust deeply. That is why they aren't afraid to spend a lot to secure the one they do trust. Almost nobody on earth has established that kind of trust with the board, so the pickings are slim. Basic supply and demand, as always. The board works for the shareholders. The shareholders are the employee of the next customer in line.