Lane Gain

Lane Gain

One of the blessings—and curses—of staying in the same professional lane for 15+ years is that while the topics evolve, the underlying dynamics rarely do. Case in point: CEOs and corporate boards.

Despite years of media coverage and some recent movement in diversity numbers, the makeup of most corporate boards still looks remarkably familiar—largely older white men, with a few women sprinkled in. They gather to “hold management accountable,” or at least that’s the official line.

A longtime friend of mine, who’s outlived most sitting CEOs, once summed it up like this:

“What CEOs really want is zero taxes, zero regulation, and zero competition.”
Slightly exaggerated—but not by much.

Any time you think things might truly be changing—activist investors, #MeToo, or the latest ESG push—the momentum seems to slow, the noise fades, and business as usual resumes. That doesn’t mean no progress is happening; it just means real progress is messier and slower than headline writers would have us believe.

Conflicting Data in the Fake News Era

The confusion only deepens when the same news cycle gives you contradictory headlines. Call it a classic moment in the Fake News Era (FNE).

On October 3rd, Bloomberg Business reported that older CEOs are sticking around longer, a trend blamed on post-recession caution. The message: in uncertain times, companies prefer the devil they know.

(Source: Bloomberg article)

“CEO turnover is down. Companies are largely picking from familiar pools. Industry-hopping leaders? That’s so early-2000s.”

Then, just one day later, The Wall Street Journal published a headline implying the opposite: “CEO Tenure is Getting Shorter. Maybe That’s a Good Thing?” This piece, sparked by GE’s CEO shakeup, claimed average CEO tenure has dropped to 4.8 years, and turnover is the new normal again. Apparently, summer was a hot season for CEO exits.

(Source: WSJ article)

So which is it? Are CEOs staying too long—or being tossed too soon?

The More Things Change…

The answer is: both, depending on where you look. But the bigger truth is this—the system isn’t shifting as fast as the media spin suggests.

Despite all the noise, boardroom culture tends to move at the pace of a long-form documentary, not a TikTok trend. It’s a slow, often frustrating evolution. And no matter what the numbers say this week, next week will bring new ones that say something else entirely.

Think of it like life: some years are up, some years are down. But with good health, strong relationships, and a little faith, you stay in the game. Oddly enough, qualities like those—so essential in life—are rarely mentioned as criteria for leading a company. Maybe they should be.

Call it the Ken Chenault effect. The former Chairman and CEO of American Express modeled not just what effective leadership looks like, but what a life well-led looks like. And when he left, he took with him a rare mix of results, respect, and quiet impact.

A Final Salute

Let’s also pause to remember the late, great Gerry Roche—a CEO whisperer and legend in the world of executive recruiting.
(WSJ tribute)

Gerry spent a lifetime helping others rise while staying grounded himself. He understood something we often forget in today’s transactional world: that real business starts with real relationships. His favorite line?

“A friend is a treasure that you can keep forever.”

We’d all do well to remember that. Especially in leadership. Especially now.