Return-to-office mandates are becoming more prevalent, prompting discussions about remote work for CEOs. Starbucks discontinued remote work for corporate staff but had previously allowed its CEO to work remotely. Opinions are divided among Minnesota's business leaders, with some emphasizing the importance of personal engagement, while others believe a CEO's location is less significant due to travel demands. Research shows companies with remote CEOs tend to have lower market valuations and employee satisfaction, and such CEOs are more likely to face investor pressure due to financial performance.
Starbucks ended its remote work policy for corporate headquarters staff in 2023, drawing criticism for granting its new CEO a remote work arrangement during a time where in-office expectations are growing.
Bill George, a former Medtronic CEO and executive leadership educator, stated, 'I just think there is no substitute for that engagement, that personal engagement'.
A study indicates companies with long-distance CEOs experience lower market valuations and employee satisfaction, and such leaders are more likely to leave due to pressure from investors.
Myles Shaver, a professor at the University of Minnesota, argues that for large, multinational CEOs, their location may not matter due to their travel schedules.
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