I was reading the WSJ about Elon Musk and found this interesting:
“For Musk, that (his management philosophy) means latching on to one or two existential issues and riding them week after week.
“I used to sit in those meetings, saying I’m pretty dang sure that our competitors’ CEOs are not sitting in these weekly engineering reviews and not driving their companies as fast,” McNeill said. “Therefore we’re compounding an advantage against them.”
This is one of our issues: the most senior leaders at PSX show little to no interest in the existential issues that result in our underperformance. And they certainly are not willing to sit through meetings to help ensure that the issues are being worked. In fact, they struggle to stay awake during 30 and 60 minute meetings on issues of performance and ensuring priorities are being worked. Instead, they spend time having dinner with investors and the board.