There is literally no incentive for a giant corporation to put anyone competent at the helm. That's a backward understanding of the situation. CEOs don't exist

There is literally no incentive for a giant corporation to put anyone competent at the helm. That's a backward understanding of the situation. CEOs don't exist to enrich corporations; corporations exist to enrich CEOs. Anyone who had the power to appoint someone competent has no motivation to do so: they can also appoint their buddies, who can continue to parasitize the effectiveness of the company for their own gain. Why would they make some rando CEO? They literally do not care about the long-term success of the company as a whole, they only care about the portion of it that they can drain of blood in the short-term. Any company with any level of "excess competence" is immediately swarmed by Business Caste parasites (via a takeover or several other means) and that excess competence is drained off into their pockets. In fact laying off support departments and canceling products and reneging on promises is one of the easiest ways to suck out value from the company into the C-layer in the short term. Who cares if the company flounders and fails? They just spread their locust wings and find a new host.