[throwawayqqq11]

> It's not really about the board.

> Unless they're lead by an exceptionally strong person who can stand up to economic forces

Isnt the board the ultimate force, including the economic one?

You are supporting OPs claim actually. Becoming a mature company brings declining workforce morale.

> they will turn them into IBM.

because

> The CEOs job is to make the board happy. That’s it.

[ryloric]

Not agreeing with OP, boards don't always focus on immediate results and CEOs aren't androids that just care about pleasing the board. The world is rarely that simplistic.