Notable CEOs Not Making the List
Wondering where Andrew Mason of Groupon (NASDAQ:GRPN), Mark Zuckerberg of Facebook (NASDAQ:FB) and Reed Hastings of Netflix (NASDSAQ:NFLX) are? Don’t. Not that any of the trio are fault-free, and not that their stocks’ share prices aren’t in trouble, but none of these individuals has done something they should have known not to do (or at least could have prevented).
In the case of Zuckerberg and Mason, the missteps are largely attributable to their youth and a lack of appreciation for the fact that shareholders become your customer when you’re running a publicly traded company. And, though neither Groupon nor Facebook are smashing successes yet, it’s not arrogance, ethics problems or excessive pay getting in the way. Both companies are simply now at the point where they need to be effectively monetized, and their founders might not be the right people for that particular job.
As for Reed Hastings and Netflix, perhaps he was too optimistic he’d be able to develop a great business model that others wouldn’t copy. But he still turned a great idea into a viable business category. Now it’s all about finding the right balance between his cost and customer fees. He’s not found it yet, but the premise clearly works.
As of this writing, James Brumley did not hold a position in any of the aforementioned securities.