Founder Alex Marechniak stepped down as CEO not from a lack of skill, but because personal crises and burnout depleted his capacity. He recognized that leadership requires being "fully in the game," and transparently told his board he wasn't, prioritizing the company's health over his ego.

A strategic reason for a leader to resign is to de-escalate public tension. After a crisis, the leader can become a symbol of that difficult period. By stepping down, they absorb the negative sentiment, lower the political temperature, and allow their organization to move forward.

Great founders like Sam Zell and Charlie Munger don't retire; their exit strategy is death. They work until the end because their work isn't a job, but a deep-seated passion. The ultimate sign of loving your work is that no amount of money could convince you to stop doing it.

The young Steve Jobs famously vilified IBM in the iconic "1984" ad. However, upon returning to a failing Apple, the older Jobs recognized his own operational weaknesses. He hired a wave of talent from IBM, including Tim Cook, to instill the discipline in logistics, procurement, and manufacturing that he had previously disdained.

A CEO who stays too long creates an organization optimized to respond only to them, causing other skills and response mechanisms to weaken. Leadership changes are healthy because they force a company to develop a more balanced and resilient set of capabilities, breaking the imperial CEO model.

If a decision has universal agreement, a leader isn't adding value because the group would have reached that conclusion anyway. True leadership is demonstrated when you make a difficult, unpopular choice that others would not, guiding the organization through necessary but painful steps.

Career success alone often leads to an "Is this it?" crisis. Leaders lacking an "Ironman core"—an inexhaustible purpose—eventually become empty managers of process. True leadership requires a driving mission to inspire others and sustain oneself through challenges.

Corporate leaders are incentivized and wired to pursue growth through acquisition, constantly getting bigger. However, they consistently fail at the strategically crucial, but less glamorous, task of divesting assets at the right time, often holding on until value has significantly eroded.

Contrary to the cultural narrative that aging diminishes relevance, experience brings profound advantages. Older leaders are often smarter, more in tune with their integrity, and less afraid to take risks or disappoint others, making them more effective and resilient.