Running a company is difficult. Running one with a dysfunctional board of directors is impossible.
Consider these examples, all of which I heard about firsthand in meetings with CEOs:
If the board is deeply dysfunctional there’s nothing the CEO can do about it. The light bulb doesn’t want to change.
What does that mean for CEO candidates? Due diligence on the board of directors is critical. If there are signs of dysfunction, don't take the position. It’s that simple.
If you've already taken the job and find the board is making success impossible, it's time to leave. Staying would most certainly mean a demoralizing march toward failure and eventual dismissal.
I asked one of those CEOs what he learned from his experience. He said, "“What did I learn? I learned you can’t fix governance.”