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Bad news CEOS: You’re less important for your company’s success than you think


Earlier this year, Glencore legendary CEO Ivan Glasenberg retired after 18 years at the helm of the largest mining company in the world. During his tenure, the company’s stock went up and down, with an overall performance between 2002 and 2020 of -16.8% on a cumulative basis (Glasenberg is also credited with taking the company public in 2011). In the same time period Rio Tinto’s (Glencore’s biggest rival) stock return was +152%.Take the case of Steve Jobs. During the period he was the CEO of Apple (and taking into account only the years when the company was publicly traded), the stock …

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