What does a CEO do?

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Master Geek
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#1561365 28-May-2016 18:36

Interesting replies.

What if you were a CEO and instructed to make 20 of your workers redundant, most of whom are your good friends you have known for many years.

The next week you have to greet them as you walk past the WINZ office to buy your coffee and lotto ticket.

Their children go to the same school and are in the same classes as your kids, but now hate your kids because of what you have done...

Easy to say they sit on their butts, but in my opinion most of them deserve what they are paid.

Rikkitic

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#1561379 28-May-2016 19:29

driller2000:

If the OP was serious you can find std role descriptions on google easily enough e.g.: http://managementhelp.org/chiefexecutives/job-description.htm

I report to the NZ GM for a company of approx 400 staff in NZ - and while he is not the CEO (as we are a global firm of 8,500) - his role and responsibilities are very similar to a CEO - but in a NZ context. And I would suggest a lot of CEOS/GM's do likewise - and it ain't an easy job as it carries a sh*it load of responsibility - get it right and everything is "great" (subjective comment) - get it wrong - companies values can plummet, people can lose their jobs and companies can ultimately cease to exist.

If the OP was questioning the relative value of a CEO to workers - then that is indeed a valid question as there have been many examples pf CEO's who have not met their responsibilities - yet seem to get paid inordinate amounts of cash simply because that's what they got paid at the last company - which they also possibly failed.

Shareholders can sometimes revolt but so often the damage is already done and somehow these sorts of overpaid / reckless / useless CEO's often seem to get another gig - rinse / repeat. Go figure ehh?

PS: Watched the Emperors New Clothes the other night - sort of related to the above - if you can tolerate Russell Brand - it's worth a watch.

My question is serious. I genuinely wonder what CEOs actually do, and how it can possibly justify the money some are paid. At the same time, I didn't want to start a CEO bashing thread. I was hoping for some serious replies and that is mainly what I have seen here.

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#1561380 28-May-2016 19:30

My last two CEOs laid off 90% of their NZ workforce (including me) within one month of taking over, and moved the companies overseas.

Yes, I am angry and bitter.

I have never met a CEO that I trusted.

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mattwnz

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#1561394 28-May-2016 19:48

Sideface:

My last two CEOs laid off 90% of their NZ workforce (including me) within one month of taking over, and moved the companies overseas.

Yes, I am angry and bitter.

I have never met a CEO that I trusted.

They make the big money to make the big decisions, and will get the flack. A little like a sports coach of a top NZ team, if the team do badly, they are the first to get the blame. IMO it takes a certain personality type to be the sort of CEO that is employed to make big changes to a company. They may have a shorter life as a result, as can be very high stress, especially if you have a high degree of morality and you don't personally agree with what you are doing. I wouldn't want to be one, although being a business owner, I suppose I am one, if I want to call myself one.

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#1561398 28-May-2016 19:49

JAYJAY:

Talk to to corporate
Approve memos
Lead a workshop
Remember birthdays
Direct workflow
My own bathroom
Micromanage
Promote Synergy
At least, that's my understanding according to a song about being a boss.

You missed out the part about sending faxes and Debrahs desk.

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Anything I post is my own and not the views of my past/present/future employer.
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DaveB

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#1561399 28-May-2016 19:49

Sideface:

My last two CEOs laid off 90% of their NZ workforce (including me) within one month of taking over, and moved the companies overseas.

Yes, I am angry and bitter.

I have never met a CEO that I trusted.

See gumboot19's reply above. Do you think a CEO lays off 90% of their workforce just because they can?

Consider maybe that on many occasions a CEO is not getting a lot of enjoyment from the role he has undertaken to do based on the instructions passed down by his or her bosses - the shareholders. Maybe it is the shareholders that you should learn to distrust.

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#1561406 28-May-2016 20:16

DaveB:

Sideface:

My last two CEOs laid off 90% of their NZ workforce (including me) within one month of taking over, and moved the companies overseas.

Yes, I am angry and bitter.

I have never met a CEO that I trusted.

See gumboot19's reply above. Do you think a CEO lays off 90% of their workforce just because they can?

Consider maybe that on many occasions a CEO is not getting a lot of enjoyment from the role he has undertaken to do based on the instructions passed down by his or her bosses - the shareholders. Maybe it is the shareholders that you should learn to distrust.

I was a shareholder in both companies.
Both NZ companies were victims of a hostile take-over by US competitors, whose intention was to close them down.
Shareholders were not told about the planned "relocation"/asset stripping until after the take-over, by which time there was nothing that they could do.
My shares are now worthless.

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atomeara

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#1561409 28-May-2016 20:24

I heard of an apparent study that the more the CEO got paid the worse the company did.

It is really a case by case, company by company, industry by industry thing.

A small to medium company, like the CEO at my company, who is also a part owner and director does a lot. He grown the business and ultimately the success of the company lies with him and the other owner / director. They decide where to spend the money.

Where the company needs to innovate a grow due to market changes, from things such as technology change, overseas competition, the CEO will generally drive some of this at a high level or at least they should or the company will start to struggle!

Theresa Gattung when CEO of Telecom is an interesting one, she said - It's [Telecom] used confusion as its chief marketing tool - but was also smart enough to sell of Yellow Pages and make a killing for the share holders.

But there does seem to be a large number of CEOs who are just rubbish. To many of them money just seems to be a game.

MikeB4

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#1561418 28-May-2016 20:47

Summed up easily, they earn every dollar they are paid and more. They have huge responsibilities that don't end when they go home. They don't work 40 hours they work 70, 80, 90+ hours per week.

Here is a crazy notion, lets give peace a chance.

blackjack17

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#1561423 28-May-2016 21:09

MikeB4: Summed up easily, they earn every dollar they are paid and more. They have huge responsibilities that don't end when they go home. They don't work 40 hours they work 70, 80, 90+ hours per week.

ahh so they are like teachers (well except for the huge salary)

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#1561426 28-May-2016 21:26

MikeB4: Summed up easily, they earn every dollar they are paid and more. They have huge responsibilities that don't end when they go home. They don't work 40 hours they work 70, 80, 90+ hours per week.

I may not always agree with your views, but you are 101% correct with this statement. There are of course always the odd exception to the rule, but overall most earn every cent they make (and then some).

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#1561430 28-May-2016 21:44

In common with the rest of the poplulation they exist on a bell curve. There are good CEOs, bad CEOs, imbecilic CEOs and brilliant CEOs.

Like every other role the pound of flesh extracted may not match the value delivered however it generally has some degree of alignment. My experience of management is the extra cash is not really compensation for the pain you have to deal with to get it. Also bear in mind that the role is primarily a management role - a senior management doesn't do much direct work, he/she manages managers, tries to steer the company culture and engages with stakeholders.

While some may mock the stakeholder topic anyone who has worked in a matrix organisation doesn't underestimate the amount of work involved, and the benefits when it's done well. If it's done poorly then it can be a train smash.

mattwnz

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#1561432 28-May-2016 21:44

blackjack17:
MikeB4: Summed up easily, they earn every dollar they are paid and more. They have huge responsibilities that don't end when they go home. They don't work 40 hours they work 70, 80, 90+ hours per week.

ahh so they are like teachers (well except for the huge salary)

Some , not all I suspect. Many small business owners work those sorts of hours too , and perhaps can have as much stress and responsibility, but are nowhere near as well remunerated.

I really wish councils wouldnt call their town clerk a CEO, nor heads of SOEs. They are funded by tax and ratepayers who pay their salary, and and have not competition like privately run companies.

MikeB4

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#1561437 28-May-2016 21:51

mattwnz:
blackjack17:
MikeB4: Summed up easily, they earn every dollar they are paid and more. They have huge responsibilities that don't end when they go home. They don't work 40 hours they work 70, 80, 90+ hours per week.

ahh so they are like teachers (well except for the huge salary)

Some , not all I suspect. Many small business owners work those sorts of hours too , and perhaps can have as much stress and responsibility, but are nowhere near as well remunerated.

I really wish councils wouldnt call their town clerk a CEO, nor heads of SOEs. They are funded by tax and ratepayers who pay their salary, and and have not competition like privately run companies.

Some state CEOs are in control of budgets well in excess of many counterparts in private enterprise and are paid considerably less.

Here is a crazy notion, lets give peace a chance.

DaveB

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#1561446 28-May-2016 22:05

mattwnz:
blackjack17:

MikeB4: Summed up easily, they earn every dollar they are paid and more. They have huge responsibilities that don't end when they go home. They don't work 40 hours they work 70, 80, 90+ hours per week.

ahh so they are like teachers (well except for the huge salary)

I really wish councils wouldnt call their town clerk a CEO, nor heads of SOEs. They are funded by tax and ratepayers who pay their salary, and and have not competition like privately run companies.

I think the reason the state sector moved down that path was to try and attract senior people from the private sector.

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