I am working in my office. I've got a boss who tells me what to do. He's got a boss who tells him what to do. And above him is another boss who probably is telling my boss in the same way - or my boss' boss in the same way what to do. In actuality, this is not the way things work. Management science says that that kind of a chain doesn't work more than three levels up.
What's less well known is that the CIA's executive management staff is far more concerned with selecting the right candidates to serve as CIA officers than it is about selecting agents overseas. The CIA dedicates a huge portion of its budget figuring how to select, control, and manage its own work force. It begins with instilling blind obedience. Most CIA officers consider themselves to be soldiers. The CIA is set up as a military organization with a sacred chain of command that cannot be violated. Somebody tells you what to do, and you salute and do it. Or you're out.
As we got more interested in time management and productivity, we lost the individual, and with that individual loss, we lost happiness as well. So I think the world has actually been malnourished as we've focused so much on productivity and ignored happiness and meaning to our own detriment.
Of one thing the investor can be certain: A large company's need to bring in a new chief executive from the outside is a damning sign of something basically wrong with the existing management - no matter how good the surface signs may have been as indicated by the most recent earnings statement.