The best CEOs connect numbers to people, systems, and outcomes.

The best CEOs connect numbers to people, systems, and outcomes. That’s how they build lasting value.

Take Ed Bastian, Delta’s CEO.
He started as a CFO. Having cut my teeth as an accountant, I understand that mindset — disciplined, data-driven, financially rigorous.

But Bastian didn’t just focus on cutting costs.
While others cut costs in a race to the bottom, he invested in customer experience.
While competitors chased low prices, he built loyalty and operational strength.

Delta became the most profitable U.S. airline — and one of the most admired.
Bastian didn’t just hit targets. He understood the drivers behind those results.
He linked performance to culture, capital allocation, and disciplined execution.
That’s what separates long-term leaders from short-term managers.

This is why our process goes deep — into the leadership, the numbers, and the business itself.
We assess the people, the business, the industry, and the strategic realities.

Because while Bastian’s leadership improved the company dramatically, Delta’s stock has been almost flat over nine years.

Right CEO. Right match for the company. But the wrong investment.

The real question isn’t just whether leadership can execute.
It’s whether leadership can create lasting shareholder value in the environment they face.