It’s safe to say that CEOs are, overall, a talented bunch, but that’s not what separates them from other professionals, nor is it the main reason their firms succeed or fail. Certainly it doesn’t come close to explaining why they’re so well paid. Put another way, CEOs matter, just less than many people think. Instead, luck, and yes, bias, play a far larger role in determining who ends up leading companies, and whether they are fired or end up industry leaders.
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