I disagree. Steve pulled Apple out of its death spiral through incredible management. All the innovation and talent in the world won't save a company that can't execute on it's strategy. He pulled together an incredible executive team that solved a lot of Apple's problems like development delays, inventory/distribution management and manufacturing. That is all management. It isn't as sexy to talk about as iMacs, iPhones, etc.. but without those things working Apple would have gone out of business years ago.
But in a sense you're confirming what I was suggesting. Putting together a management TEAM isn't necessarily being a great manager yourself. That's called delegation. And having a visionary at the top works for a technology company like Apple.
These other CEOs in question aren't necessarily visionaries,but dyed-in-the-wool managerial types, and the companies aren't all Apples. As the reply I quoted suggests, and others like it, additional factors can be at play that confuse the direct correlation between CEO compensation and stockholder return.
What do you think he was doing with the executive team? He wasn't just hanging out with them he was managing them. Building the team is management, delegation is management, getting the team to work together is management. That is what any CEO does, they don't get lost in the weeds managing every person. Steve certainly thought he managed and talked about it.
Steve JobsMy model of management is the Beatles. The reason I say that is because each of the key people in the Beatles kept the others from going off in the directions of their bad tendencies. They sort of kept each other in check. And then when they split up, they never did anything as good. It was the chemistry of a small group of people, and that chemistry was greater than the sum of the parts. And so John kept Paul from being a teenybopper and Paul kept John from drifting out into the cosmos, and it was magic. And George, in the end, I think provided a tremendous amount of soul to the group.
People tend to dwell on Steve the product guy but few realize that in the end his greatest product wasn't the Mac, iPod, iPad or iPhone. His great product was the company and how it works. That is management.