Chapter 12. The Mythic CEO: Why Real Leaders Became an Endangered Species
Traditionally, senior business executives were almost unknown to the public at large; they preferred anonymity. Their names appeared on major charity event programs and other public good works, but rarely in the business news. Rarely was CEO compensation a news item, and most corporate leaders received income commensurate with their positions. Lee Iaccoca, the CEO who rescued Chrysler in the 1980s, was a great exception; he savored PR and worked the media like a pro to benefit the company. His compensation made news when he cut his $360,000 salary to one dollar and said, “I intend to spend it very carefully.”
Iaccoca may have spurred the trend toward CEOs reinventing themselves ...
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