This is why the father to son family business model may prove more enduring.
I understand that it's rational behavior for someone driven exclusively by money, but that's an important qualification. Most people are not money robots, so they aren't given these jobs.
But it shouldn't be a strong incentive, right? Getting fired from a CEO position is fine, you're almost certainly set for life. I understand this is sort of a circular argument, because anyone who doesn't buy into this incentive structure won't be hired as CEO, but my point is that somebody who is willing to go along with this system isn't really behaving rationally in the normal sense of the word.
Generally, a non-founder CEO is a ferociously competitive person--probably to the point of being pathological. They often "play poker" in situations where there is very little upside to doing so.
Great salespeople are often the same way, they simply can't turn it off.
You are asking a leopard to change his spots after he has started eating the antelope.
That was precisely the parent comment's point.
If their comp package is weighted towards the five year term, they absolutely care about five years from now.
I'd like to add: there is no incentive for it either, shareholders want returns NOW, and so they want CEOs to act in their interest NOW. Most shareholders aren't looking at their "ownership" stake with compassion for employees at the company, or any form of responsibility to other stakeholders, but solely for their own bottom line.
The behavior won't change until the incentives do.
