It's a people problem
It always makes me wonder who is responsible for the success or failure of a company? Even the most competent, dynamic and intelligent CEO is to some extent at the mercy of inept staff and lower level management (although you would expect the CEO to remove the dead weight) . Likewise, an incompetent or indifferent CEO will be offset by a capable engineering and/or management team. Does a CEO on their own have the magic touch to turn a business around ?