That some employees at Citigroup may be in shock (Financial Times) about the sudden departure of the CEO speaks volumes about the fact that the role of the CEO in today's corporation is vastly exaggerated. While no one would deny that the decision of the leader is critical it does not mean that this is necessarily a good thing as many examples in business (and history) show. Relying on the judgement and predelictions of a single person creates risks that would be mitigated in a more collegial system of leadership.
(20/10/2012)
In our paper entitled Asset Management, Index Funds, and Theories of
Corporate Control, we dispute the principal arguments of three papers
addressing asset...
11 hours ago
