"Microsoft fits this description. Their failures in multiple markets is no longer just a failure of management but a failure of board governance. (Hard to fix when the major shareholder is the lifelong friend of his handpicked replacement.)"

Strong and direct words, but I have to agree. What we see as outsiders is the acting of the CEO, but his actions are backed by the board and they are responsible for the direction of the company. Just wondering when the change of leader ship will come.