Apparently whoever wrote this has not worked at a somewhat stable company. C-levels get a lot of undeserved respect when in fact usually they're protected by a very (understandably) conservative board. The board will choose inaction over action in almost every case unless the failure is so bad it's public. CEO types are not as fungible.
The actual people who succeed by not running the company in the ground are the engineers who by-and-large are fungible "human capital" paid as little as the company can possibly get away with in the current market. This is the only industry where CEOs are held with reasonably high esteem. Perhaps it's because engineers think they will become one one day. Or maybe it's because tech CEOs are ascribed some sort of god-engineer status when the reality is most of them couldn't even pass their own 18 phase 5 day interview + colonoscopy their engineers do.