I found the commmentary posted in The Week this past Saturday worth nonprofit board's and execs consideration.
The commentary by Gary Belsky read:
CEOs get too much credit for corporate success and too much blame for failures. In fact it is very tough to determine how much any company's trajectory is determined by "policies established by the guy in charge." Think about it in sports terms: A brilliant football manager can be undone by a weak training staff, and a terrible manager will look like a genius if the other team just can't play. Outcomes are even more unpredictable in complex companies, where so many decisions and actions are taking place that input from the very top may not be a decisive factor. Research suggests that when two companies go head to head, the one with the demonstrably better CEO is more successful 60% of the time. That means that even if we knew "which CEOs were aces and which were duds, we'd still only have a slightly better than 50/50 shot at predicting how their firms would perform." That's something to keep in mind the next time someone showers a CEO with praise--or calls for his/her head.