[antonzabirko]

That's usually just an excuse. For example, that issue can be addressed in a more budget-friendly way by simply adding a few temporary meeting rooms. Need to discuss a confidential concern? Just book it.

The real reason is that it's harder to find quality c-suite candidates who would accept an open office. Since stockholders care so much about the quality of leadership (rightly), companies usually spare no expense in enticing the best candidates.