Like me, you may have read with interest a Wall Street Journal story suggesting that "the revolving door for financial company CEO's is broken."
As the article explained, it's not the exit portion that isn't working – God knows plenty have been fired or quit – it's the fact that the really qualified candidates don't want the gigs.
For the most part, the internal pipeline is broken from accelerated, mass defections at the top. (In other words, the internal candidates who are willing to pitch the gigs aren't really experienced or qualified enough.) And the external pipeline – attractive C-level execs from non-financial companies – don't want to get anywhere near an industry with curbs on compensation, increasing government intervention, and a broken business model.
One wonders whether this is a phenomenom exclusive to the financial sector. Certainly the issue is most pronounced in that sector, but the c-suite increasingly resembles political office these days, doesn't it? As in, "Who the hell wants that job?" With most U.S. industries under attack - many in fundamental ways that parallel what's happened in banking – it's not a time for the faint of heart.