1. A successful CEO is a person who maximizes the long-term value of the business to its owners, the shareholders.
2. Creating a long-term value for owners means making an economic profit (EP): a profit that rewards shareholders adequately for investing their capital and one that provides and adequate total shareholder return.
3. The formula for calculating EP (A measure of a company's financial performance) is as follows:
EP = Net Operating Profit After Taxes (NOPAT) - (Capital * Cost of Capital)
4. If the shareholders are to benefit, it seems all other stakeholders (customers, staff) must be satisfied.
5. For the CEO, success must stand for the success of the business, not for measure of personal contribution.
6. A successful CEO must understand long-term shareholder value.
7. A successful CEO must understand what it takes to create it.
8. A successful CEO must work out what needs to happen for his/her organization to become a high-performing organization.
Source: Mark Thomas with Gary Mles and Perter Fisk, The Complete CEO, 2007
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