Why I Spend My Time on CEOs

People sometimes ask me why, after running companies for most of my career, I've chosen to spend this chapter of my life working on the CEO role itself. Why not retire to the board circuit, write the occasional check, and offer advice when asked?

It's a good question, and it comes down to two primary reasons.

Frustration

The first is simple frustration. Over four decades in business, I have seen, more times than I care to count, companies with everything going for them fail because of poor leadership from the CEO seat. These businesses had a real market, a product customers wanted, talented people who showed up ready to do great work—i.e., everything you need for a home run. But then the ball gets chopped into the infield for a single. Or worse, the company strikes out entirely. Everyone involved is left scratching their head: How did we mess up such a sure thing?

With all the other pieces there, the answer is usually: the CEO. What makes it frustrating to watch is that the CEOs who pres…