The Good CEO: Endangered but Not Extinct

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In the 2001 book "The Future of Leadership," a chapter by USC Professor James O'Toole extols a brand of executive who continuously reinvent their companies. A paradigm of such leadership, O'Toole wrote: Enron's Ken Lay.

Many of yesterday's magazine-cover CEOs now grace Most Wanted posters. Of the 92 CEOs on the cover of Business Week from 1997 to 2001, 49 are gone, according to the National Post in Canada. Cast out alongside them was the old definition of the future of leadership.

"To be called a 'Celebrity CEO' is not a good thing anymore," says management consultant Douglas Smith. "It may well mean you've got manacles on your wrists." ...