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> Though this argument falls apart with evidence that CEOs of big firms do need to deeply understand their companies domain. Counter-example: the last few CEOs
by throw0101b 3y ago
> Though this argument falls apart with evidence that CEOs of big firms do need to deeply understand their companies domain.
Counter-example: the last few CEOs of Boeing who have completely messed up the company.
They came from the Jack Welch of GE school of management, and it turns out that Welch et al were cooking the books. See also Enron and WorldCom.
- elcritch 3y agoHow is that a counter example? Seems like another example of “professional managers” coming in and screwing up a company. The first Boeing CEOs were from Boeing and were steeped in Boeings engineering culture and valued that expertise. Later CEOs like you mentioned didn’t. Boeing also acquired McDonnell Douglas, and many thought it was great that Boeing got to keep all McDD’s “experienced” managers.
- throw0101b 3y ago> How is that a counter example? Seems like another example of “professional managers” coming in and screwing up a company. The screwing up started at the top by changing metrics and priorities post-McDD. See Flying Blind: * https://www.penguinrandomhouse.com/books/646497/flying-blind-by-peter-robison/ https://www.penguinrandomhouse.com/books/646497/flying-blind... And the screwing up was richly rewarded.