Once upon a time, we had the imperial CEO to worry about: the business leader who ruled in the manner of Augustus over his corporate empire. Jack Welsh at GE. Lee Iacocca at Chrysler. Sam Palmisano at IBM.
Like those emperors of yore, they made sweeping, unilateral decisions, cherished their celebrity perks and ran roughshod over their boards of directors, employees and shareholders. Think Home Depot’s Ralph Nardelli, who set up giant timers at the company’s annual meetings and refused to answer questions about his (lavish) pay, set by a (too cozy) compensation committee.
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