What does all that have to with Silicon Valley?? A lot. I have seen many CEO appointment done in the same way head coaches are fired and hired in NFL. A few months ago I got a call from an executive recruiter (who had previously placed me as a VP of marketing) checking unsolicitated references on a couple of CEO candidates whom I knew. Both of those candidates had previous CEO experience, and to be honest, not good ones. I gave my fair and honest feedback to the recruiter, and then asked him if I could throw my name in the hat (just to check his reaction). His answer was simple: The board has instructed me to only look for ex-CEO's (regardless of how ineffective they have been). The recruiter had no stock in the company otherwise he wouldn't have chased either one of those candidates.
It's always been obvious to me that companies hire resumes - they don't hire people. In this example, if the board cared to see who they were hiring, they would have never hired any of those CEOs.
That explains why some CEOs spend more time producing PR for themselves while at the job, than they companies they work for or the products they market. I have often see more news about a company's CEO than their technology or products. If you notice the track records for those CEOs, they are the ones who consistently ride one company to the next (bigger and better). On the other hand, the CEO's who focus on their companies and their employees, end up staying there for long periods of time (sometimes their entire life) and keep growing the company through technology and products.
The lesson: It's not about what you do, what you deliver, or what you enable. It's about what you're thought of possibly doing, delivering, or enabling.
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